TVS iQube Electric registered sales above 10,000 units for the 5th consecutive month
TVS Motor Company sold a total (domestic + exports) of 3,17,152 (2W and 3W) in March 2023. This was a 2.99 percent YoY growth from 3,07,954 units sold in March 2022. It was a YoY volume growth of 9,198 units.
TVS Sales March 2023 vs March 2022 – YoY
Two wheeler sales in domestic markets stood at 2,40,780 units, up 22.47 percent YoY as against 1,96,596 units sold in March 2022 with a 44,184 unit volume increase. Out of these sales, motorcycle sales were at 1,41,250 units in March 2023, down 12.01 percent when compared to 1,60,522 units sold in March 2022.
Motorcycle sales command a 45.93 percent share. Scooter sales, on the other hand, improved by 35.96 percent YoY to 1,28,817 units sold in March 2023 from 94,747 units sold in March 2022 relating to a 35,070 unit volume increase. Scooters command a 41.88 percent share.
There were also 15,364 units of the iQube, TVS’ sole electric model sold in March 2023, 754.03 percent YoY growth over 1,799 units sold in March 2022. TVS also has the XL100 moped in its company lineup of which 37,492 units were sold last month, relating to a 0.42 percent YoY de-growth from 37,649 units sold in March 2022.
Exports of two wheelers dipped 30.41 percent YoY to 66,779 units in March 2023 from 95,962 units shipped in March 2022. This took total two wheeler sales up 5 percent YoY to 3,07,559 units in March 2023 from a total of 2,92,918 units sold in March 2022.
TVS Motors 3W Sales March 2023
Three wheeler sales (domestic + exports) in March 2023 dipped 36.20 percent to 9,593 units, down from 15,036 units sold in March 2022. This was a 5,443 unit volume de-growth. 3W domestic sales increased by 4.79 percent to 1,335 units in March 2023 from 1,274 units sold in March 2022 with a 31.93 percent share. 3W exports on the other hand, dipped 39.99 percent to 8,258 units in the past month from 13,762 units shipped in the same month last year.
Taking total Domestic 2+3 wheeler sales into account, sales improved by 22.36 percent to 2,42,115 units in March 2023 from 1,97,870 units sold in March 2022. This was a 44,245 unit volume growth with a 76.34 percent share. Exports (2+3W) fell by 31.61 percent YoY to 75,037 units in March 2023 from 1,09,724 units sold in March 2022. This took total sales of the company to 3,17,152 units in March 2023 up 2.99 percent from 3,07,954 units sold in March 2023.
When assessing sales in the financial year 2022-23, total two wheeler sales of TVS Motor stood at 8.40 lakh units, up from 8.15 lakh units registered in the same period of 2021-22. Three wheeler sales stood at 0.29 lakh units in FY 2022-23, down from 0.42 lakh units sold in FY 2021-22. Total exports were at 1.85 lakh units the last quarter down from 3.15 lakh units shipped in the third quarter of 2021-22.
