TVS Motor Company has reported impressive sales figures for December 2024, recording a total of 321,687 units sold, marking a 7% increase compared to 301,898 units in December 2023. This growth highlights the company’s continued success across various segments, particularly in two-wheelers and electric vehicles.
Two-Wheelers Drive Growth
The two-wheeler segment saw a notable growth of 8%, with sales rising from 290,064 units in December 2023 to 312,002 units in December 2024. Domestic sales remained stable, with a marginal increase from 214,988 units to 215,075 units. Within the two-wheeler category, motorcycles experienced a slight decline in sales, dropping from 148,049 units in December 2023 to 144,811 units in December 2024. On the other hand, the scooter segment registered a remarkable 30% growth, with sales increasing from 103,167 units to 133,919 units year-on-year.
Electric Vehicle Surge
TVS Motor Company’s electric vehicle (EV) sales have seen a substantial boost, rising by 79%. The company sold 20,171 electric units in December 2024, compared to just 11,288 units in December 2023. This surge in EV sales is a testament to the growing consumer demand for sustainable and eco-friendly transportation solutions.
International Business Expands
Internationally, TVS Motor Company has also demonstrated strong growth, with total exports increasing by 22%. The company’s total exports rose from 85,391 units in December 2023 to 104,393 units in December 2024. The two-wheeler export segment saw even higher growth, with a 29% increase, from 75,076 units in December 2023 to 96,927 units in December 2024.
Three-Wheeler Sales Dip
While the two-wheeler and electric vehicle segments flourished, the three-wheeler category saw a decline in sales. The company sold 9,685 three-wheelers in December 2024, down from 11,834 units in December 2023.
Third Quarter Performance Highlights
TVS Motor Company’s strong performance continued into the third quarter of FY 24-25, with two-wheeler sales posting a robust growth of 11%. The company sold 11.8 lakh units in the third quarter, compared to 10.6 lakh units in the same period last year. EV sales in the same period rose significantly by 57%, with 0.76 lakh units sold in the third quarter of FY 24-25, compared to 0.48 lakh units in the previous year. However, three-wheeler sales declined to 0.29 lakh units from 0.38 lakh units in the third quarter of FY 23-24.
Overall, TVS Motor Company’s December 2024 and third-quarter results reflect its strong market presence, innovation in electric mobility, and resilience in challenging market conditions
