TVS Motor two wheeler sales has posted exceptional YoY growth – TVS has over 30k pending orders of the iQube
TVS Motor Company has released sales figures for May 2023. It may be seen from the attached table that YoY sales growth was seen across motorcycle and scooter sales as well as where the company’s moped and e-scooter were concerned. Exports on the other hand have been lackluster, finishing in the red, both in terms of two and three wheelers.
TVS Motor Company has registered 9.12 percent sales growth in May 2023. Sales (2+3 W) stood at 330,609 units in the past month, up from 302,982 units sold in May 2022. This was a volume growth of 27,627 units. On a MoM basis as well, the company has reported a 7.96 percent growth from 3,06,224 units sold in April 2023.
TVS Motor Sales May 2023
Talking exclusively about the company’s two wheeler sales, growth was reported across motorcycles, scooters, moped and sole electric scooter – iQube. Motorcycle sales improved by 9.21 percent to 1,62,248 units in May 2023. Up from 1,48,560 units sold in May 2022. It was also a 6.49 percent MoM growth from 1,52,365 units sold in April 2023. Motorcycle share currently stands at 50.81 percent. TVS motorcycle range includes Apache, Raider, Sport, etc.
Scooter sales also saw a YoY growth of 2.52 percent to 1,03,203 units in May 2023, up 2,538 units as compared to 1,00,665 units sold in May 2022. MoM sales of scooters dipped 3.99 percent from 1,07,496 units sold in April 2023. TVS scooters include Jupiter, Ntorq, iQube, Scooty Pep+, etc.
TVS Motor has been seeing good demand for the iQube e-scooter, sales of which surged to 17,953 units in May 2023, up 580.81 percent as against 2,637 units sold in May 2022. On a MoM basis as well, sales improved by 188.31 percent from 6,227 units sold in April 2023. From 1st June 2023, the company has increased prices of the TVS iQube in the range of Rs 17,000 to Rs 22,000 depending on variant.
There is also the TVS XL 100 moped, sales of which increased by 42.32 percent YoY and 54.17 percent MoM to 52,844 units. This took total two wheeler domestic sales up 31.97 percent to 2,52,690 units in the past month up from 1,91,482 units sold in May 2022. MoM sales improved by 8.47 percent from 2,32,956 units sold in April 2023.
Exports of two wheelers were lower on a YoY basis by 30.31 percent to 66,605 units from 95,576 units shipped in May 2022. MoM exports however improved by 7.72 percent over 61,830 units shipped in April 2023. Two wheeler total sales increased by 11.23 percent YoY and 8.31 percent MoM to 3,19,295 units in May 2023.
TVS Motor 3W Sales and Exports
In the three wheeler segment the company posted positive YoY sales in domestic markets but finished in the red in terms of exports. 3W domestic sales stood at 1,312 units in the past month, up 4.54 percent from 1,225 units sold in May 2022. MoM sales however, dipped 18.26 percent from 1,605 units sold in April 2023.
Exports on the other hand fell on a YoY basis by 31.82 percent to 10,002 units from 15,669 units sold in May 2022. MoM exports saw a marginal increase of 1.72 percent from 9,833 units shipped in April 2023. Total 3W sales fell 28.95 percent YoY and 18.26 percent MoM to 11,314 units.
Source: Bike - rushlane.com
