In a significant stride towards market dominance, TVS Motor Company proudly announced a stellar 25% growth in its sales for the month of December 2023. The company reported an impressive figure of 301,898 units sold, showcasing a substantial leap from the 242,012 units recorded in the same month of the previous year.
Thriving Two-Wheeler Segment Leads Growth Surge
The thriving two-wheeler segment played a pivotal role in TVS Motor Company’s success story, registering an overall growth of 27%. Monthly sales soared from 227,666 units in December 2022 to an outstanding 290,064 units in December 2023. The domestic two-wheeler market witnessed an even more remarkable upswing, with a growth of 33%, escalating from 161,369 units to an impressive 214,988 units during the same period.
Breaking down the two-wheeler category, motorcycles experienced a commendable 19% growth, reaching 148,049 units compared to the 124,705 units sold in December 2022. Scooters, on the other hand, marked a staggering 34% growth, with sales climbing from 76,766 units in December 2022 to a remarkable 103,167 units in December 2023.
Green Wheels: TVS Electric Vehicle Sales Remain Strong
TVS Motor Company also asserted its commitment to sustainable mobility with a robust performance in the electric vehicle (EV) segment. The company reported the sale of 11,232 EV units in December 2023, showcasing a steady progression from the 11,071 units recorded in the same month of 2022.
Global Outreach: TVS Exports on the Rise
The international business sector of TVS Motor Company witnessed a commendable 8% growth, with total exports escalating from 79,402 units in December 2022 to 85,391 units in December 2023. Two-wheeler exports specifically experienced a 13% surge, reaching 75,076 units, up from 66,297 units in December 2022. The company anticipates sustained positive momentum in international markets.
Three-Wheeler and Q3 Overview
While the three-wheeler segment reported a decrease in sales, dropping from 14,346 units in December 2022 to 11,834 units in December 2023, the overall performance during the third quarter of the current financial year was exceptionally strong. Two-wheelers posted an impressive 27% growth, reaching sales of 10.6 lakh units compared to 8.4 lakh units in the third quarter of FY 22-23. Three-wheeler sales in the same period were 0.38 lakh units in the current year, down from 0.43 lakh units in the third quarter of FY 22-23. Notably, two-wheeler EV sales recorded a remarkable 65% growth, reaching 0.48 lakh units in the third quarter of FY 23-24, up from 0.29 lakh units in the third quarter of FY 22-23.
