In September 2023, TVS Motor Company reported 6% YoY and 16% MoM growth in sales to a total of 402,553 units
TVS Motor Company 2W and 3W total sales (domestic + exports) in September 2023 improved by 6.21 percent on a YoY basis to 4,02,553 units when compared to 379,011 units sold in September 2022. MoM sales also grew by 16.40 percent from 3,45,848 units sold in August 2023. It was the iQube that marked the highest YoY percentage sales though sales dipped MoM.
TVS Motorcycle and Scooter Sales September 2023
TVS Motor’s motorcycle sales improved by 10.11 percent YoY to 1,86,438 units in September 2023. This was over 1,69,322 units sold in September 2022 relating to a 17,166 unit volume growth. The company’s motorcycle segment commands a 48.18 percent share. MoM sales were up by 21.82 percent from 1,53,047 units sold in August 2023 with a 33,391 unit volume growth.
Scooter sales also saw a YoY improvement to 1,55,526 units, up 7.74 percent from 1,44,356 units sold in September 2022 while MoM sales were higher by 9.14 percent from 1,42,502 units sold in August 2023. TVS Jupiter was its best-selling model. TVS iQube, the sole electric scooter in the company lineup, has seen a 360.75 percent YoY growth to 20,356 units in the past month. This was against 4,418 units sold in September 2022.
However, on a MoM basis, sales dipped by 14.78 percent over 23,887 units sold in August 2023. TVS XL moped has reported a YoY de-growth of 6.37 percent to 44,991 units in September 2023 from 48,051 units sold in September 2022. This was a 3,060 unit volume decline. MoM sales performance was better by 23.06 percent over 36,561 units sold in August 2023.
This took total two-wheeler domestic sales to 3,00,493 units in September 2023, up 11.06 percent from 77,851 units sold in September 2022. MoM sales grew by 17.10 percent over 2,56,619 units sold in August 2023. 2W domestic sales currently command a 77.66 percent share. Exports on the other hand improved by 11.06 percent YoY and 14.53 percent MoM to 86,462 units in September 2023.
There had been 77.851 units and 75,491 units shipped in September 2022 and August 2023 respectively. Exports of 2W command a 22.34 percent share. This took total 2W (domestic sales + exports) up to 3,86,955 units in September 2023. Taking into account sales in the second quarter of this financial year, 2W sales saw a 6 percent increase to 10.31 lakh units from 9.77 lakh units sold in the same period last year. 3W sales have also registered a marginal growth of 0.43 lakh units as compared to 0.51 lakh units sold in Q2 FY22-23.
TVS 3W Sales and Exports September 2023
Of a total of 15,598 unit three wheeler sold in September 2023, domestic sales stood at 1,766 units, down 18.16 percent YoY over 2,158 units sold in September 2022. MoM sales grew by 3.03 percent from 1,714 units sold in August 2023. Exports on the other hand dipped 8.54 percent to 13,832 units in September 2023 from 15,124 units shipped in September 2022. MoM exports grew by 15.04 percent from 12,024 units shipped in August 2023.
Domestic (2+3 wheelers) sales grew by 5.67 percent to 3,02,259 units sold in September 2023 from 2,86,036 units sold in September 2022 while MoM sales were higher by 17 percent from 2,58,333 units sold in August 2023. Exports (2+3 wheeler) also saw a YoY and MoM growth of 7.87 percent and 14.60 percent respectively to 1,00,294 units. There had been 92,975 units exported in September 2022 and 87,515 units shipped in August 2023.