TVS Motor Company reported a 4% sales growth in April 2023, with sales reaching 306,224 units compared to 295,308 units in April 2022.
In the two-wheeler segment, the total sales increased by 5%, with domestic sales experiencing a robust growth of 29%. The company sold 294,786 two-wheelers in April 2023, up from 280,022 units in April 2022. The motorcycle segment saw a 10% growth, with sales increasing from 139,027 units to 152,365 units, while scooter sales registered a 5% growth with 107,496 units sold compared to 102,209 units in the same period last year.
TVS iQube Electric, the company’s electric vehicle brand, recorded a milestone of 100,000 units sold, thanks to the growing demand for the electric scooter. In April 2023, the company sold 6,227 units of TVS iQube, compared to 1,420 units in April 2022. However, the production was constrained due to AIS156 changeover and supply chain challenges, which impacted the sales volume. The company is confident of ramping up production from May 2023.
In the international business segment, the company’s total exports decreased to 71,663 units in April 2023 compared to 113,427 units in April 2022. The two-wheeler exports registered sales of 61,830 units in April 2023 compared to 99,489 units in the same period last year.
The three-wheeler segment of the company registered sales of 11,438 units in April 2023, a decrease from 15,286 units sold in April 2022.
TVS Motor Company remains optimistic about the growth of its electric vehicle segment and is confident of retaining its growth momentum.
