TVS Motor Company revealed a notable sales performance for December 2023, marking a 25% growth compared to the same period in 2022. The total units sold during this month reached 301,898, showcasing a substantial rise from 242,012 units in December 2022.
Breakdown of Sales:
Two-Wheeler Sales: The overall two-wheeler segment observed a 27% increase, escalating from 227,666 units in December 2022 to 290,064 units in December 2023. The domestic front witnessed a 33% growth in two-wheeler sales, climbing from 161,369 units to 214,988 units in the same comparative period.
Motorcycle and Scooter Sales: Motorcycles saw a 19% growth, soaring from 124,705 units in December 2022 to 148,049 units in December 2023. Meanwhile, scooters experienced a remarkable 34% surge, rising from 76,766 units to 103,167 units during the same timeframe.
Electric Vehicle Sales: TVS Motor Company reported the sale of 11,232 electric units in December 2023, compared to 11,071 units in December 2022.
International Business: The company’s total exports witnessed an 8% increase, reaching 85,391 units in December 2023 from 79,402 units in December 2022. In the international market, two-wheeler exports surged by 13%, from 66,297 units to 75,076 units, highlighting positive growth trends in various markets.
Three-Wheeler Sales: Three-wheeler sales for December 2023 stood at 11,834 units, showing a decrease from 14,346 units in December 2022.
Third Quarter Sales Performance:
In the third quarter of the fiscal year, two-wheeler sales surged by 27%, totaling 10.6 lakh units, compared to 8.4 lakh units in the same quarter of FY 22-23. However, three-wheeler sales witnessed a slight decline, dropping from 0.43 lakh units to 0.38 lakh units. Notably, the two-wheeler sales figures included 0.48 lakh units of EV sales in the third quarter of FY 23-24, reflecting a significant 65% growth from the previous fiscal year’s 0.29 lakh units.
The robust sales performance in various segments underlines TVS Motor Company’s positive trajectory and market momentum, particularly in the realm of electric vehicles and international expansion.
