TVS Motors has reported a 31 percent YoY improvement in November 2023 with both 2Ws and 3Ws showing off positive growth
TVS Motor Company has recorded healthy growth in terms of sales in November 2023. Total sales stood at 3,64,231 units in the past month, a YoY growth of 31 percent when compared to 2,77,123 units sold in November 2022. It was however, a MoM growth degrowth when compared to 4,34,714 units in October 2023 which had marked the company’s highest ever monthly sales.
TVS Two Wheeler Sales November 2023
Taking into account two wheeler sales of the company, sales improved by 33.55 percent YoY to 3,52,103 units in November 2023, up from 2,63,642 units sold in November 2022. This was volume growth of 88,461 units. Two wheeler MoM sales however, fell by 16.29 percent from 4,20,610 units sold in October 2023.
In the two wheeler segment, it was motorcycles that were in higher demand with 1,72,836 units sold last month, up 19.19 percent from 1,45,006 units sold in November 2022. MoM motorcycles sales fell by 14.42 percent from 2,01,965 units sold in October 2023. Motorcycles command a 49.09 percent share in the company portfolio.
Scooter sales on the other hand saw an even higher percentage YoY growth by 62.23 percent to 1,35,749 units in November 2023 from 83,679 units sold in November 2022. MoM sales dipped by 17.80 percent from 1,65,135 units sold in October 2023. Share currently stands at 38.55 percent.
Where TVS iQube is concerned, the only e-scooter in the company portfolio, sales improved by 66.89 percent YoY to 16,782 units last month. This was over 10,056 units sold in November 2022 while MoM sales dipped 16.73 percent from 20,153 units sold in October 2023. Moped sales also saw better YoY growth by 24.49 percent while MoM sales dipped 18.67 percent.
Three Wheeler Domestic Sales and Exports
In the three wheeler segment, TVS Motor has decline both in terms of YoY and MoM total sales even as performance in domestic markets were more positive. 3W Total (domestic + exports) sales stood at 12,128 units in November 2023, down 10.04 percent from 13,481 units sold in November 2022. It was also lower by 14.01 percent on a MoM basis when compared to 14,104 units sold in October 2023.
However, the company performed better in domestic markets with a59.73 percent YoY growth to 2,011 units from 1,259 units sold in November 2023. MoM sales were higher by 11.41 percent from 1,805 units sold in October 2023. Exports fell by 17.22 percent YoY and 17.74 percent MoM to 10,117 units. There had been 12,222 units and 12,299 units shipped in November 2022 and October 2023 respectively.
This took total (2W+3W) (Domestic + Exports) to 3,64,231 units in November 2023, up 31.43 percent from 2,77,123 units sold in November 2022 while relating to an 81,108 unit volume growth. YoY domestic 2+3 wheeler sales were up 49.76 percent to 2,89,028 units from 1,92,989 units sold in November 2022 while total exports dipped 10.62 percent to 75,203 units from 84,134 units shipped in November 2022. On a MoM basis both domestic and exports dipped 16.65 percent and 14.50 percent respectively.
