Domestic two wheeler sales grew by 24% to 268,233 units while three-wheeler sales stood at 1,937 units
TVS Motor Company, a leading 2 and 3 wheeler manufacturer showed off some positive sales performance in January 2024, particularly across the two wheeler segment. The company reported an overall (2+3 wheeler) (domestic + exports) growth of 23.41 percent to 3,39,513 units in January 2024. This was a YoY growth over 2,75,115 units sold in January 2023 while MoM sales improved by 12.46 percent as against 3,01,898 units sold in December 2023.
TVS Motor YoY Sales January 2024
In the two wheeler segment, motorcycle sales improved by 28.56 percent YoY to 1,55,611 units in January 2024, up from 1,21,042 units sold in January 2023. This was a volume growth of 34,569 units with motorcycles commanding a 47.16 percent share. TVS Apache and Raider are two motorcycles that continue to garner buyer’s attention and are regular features on the top 10 motorcycle sales list.
Scooter sales also saw a growth of 24.17 percent YoY to 1,32,290 units in January 2024, up from 1,06,537 units sold in January 2023 relating to a volume growth of 25,753 units. Scooter sales command a 40.10 percent share and it’s the TVS Jupiter and Ntorq that are popular products in this segment.
TVS also has the iQube e-scooter that has seen a 33.75 percent YoY growth to 16,276 units last month. It was a significant growth over 12,169 units sold in January 2023 with a 4,103 unit volume growth. Moped sales also improved YoY by 13.21 percent to 42,035 units. This took total 2W sales to 2,68,233 units in January 2024 up 23.91 percent over 2,16,471 units sold in January 2023.
Exports have also posted a YoY growth by 27.91 percent to 61,704 units in January 2024 from 48,239 units sold in January 2023 taking total 2W sales up 24.64 percent to 3,29,937 units from 2,64,710 units sold in January 2023. Where 3W sales were concerned, the company has seen increased demand in domestic markets by 19.57 percent to 1,937 units up from 1,620 units sold in January 2023. However, 3W exports dipped by 13.04 percent YoY to 7,639 units in January 2024 as against 8,785 units sold in January 2023. Thus total 3W sales were in the red by 7.97 percent to 9,576 units in January 2024 from 10,405 units sold in January 2023.
TVS total (2+3W) domestic sales grew by 23.88 percent to 2,70,170 units in the past month from 2,18,091 units sold in January 2023 while exports saw a 21.60 percent YoY growth to 69,343 units. This took total sales to 3,39,513 units relating to a 23.41 percent YoY growth.
TVS Motor MoM Sales January 2024
On a MoM basis, total sales (2+3W) (domestic + exports) grew by 12.46 percent from 3,01,898 units sold in December 2023. This was a volume growth of 37,615 units. Growth was seen both in terms of motorcycle and scooter sales. Motorcycle sales improved by 5.11 percent MoM to 1,55,611 units from 1,48,049 units sold in December 2023 while scooter sales were up 28.23 percent from 1,03,167 units sold in December 2023. Motorcycles and scooters commanded a 51.04 percent and 35.57 percent share respectively.
E-scooter and moped sales also improved by 4-scooter and moped sales also improved by 44.91 percent and 8.21 percent MoM over 11,232 units and 38,848 units sold in December 2023 thus taking total W2 sales up 24.77 percent to 2,68,233 units in January 2024 from 2,14,988 units sold in December 2023. Exports of two wheelers however fell by 17.81 percent from 75,076 units shipped in December 2023
In the 3W segment, domestic sales improved by 27.52 percent to 1,937 units last month from 1,519 units sold in December 2023. However, 3W exports dipped significantly by 25.94 percent over 10,315 units shipped in December 2023. This took total 3W exports down by 19.08 percent to 9,576 units in the past month from 11,834 units sold in December 2023. Total domestic (2+3W) sales saw a 24.79 percent improvement on a MoM basis while exports (2+3W) dipped 18.79 percent MoM.
