TVS Motor reported significant growth in domestic markets while exports dipped by over 50 percent in Feb 2023
TVS Motor total two wheeler sales (domestic + exports) stood at 2,65,872 units in Feb 2023. This was against 2,66,212 units sold in Feb 2022. Domestic two-wheelers saw a 27.83 percent YoY growth with sales of 221,402 units in February 2023. This was as against 1,73,198 units sold in Feb 2022 relating to a volume growth of 48,204 units.
Maximum sales growth was reported for the iQube electric scooter which posted a 593.57 percent YoY increase in sales. Exports on the other hand dipped 52.19 percent to 44,470 units in Feb 2023 from 93,014 units shipped in Feb 2022. This was a volume de-growth of 48,544 units.
TVS Domestic Sales Feb 2023
In domestic markets it was the TVS Jupiter that saw the most sales. Sales in the past month stood at 53,891 units, a 14.44 percent YoY growth over 47,092 units sold in Feb 2022 relating to a volume growth of 6,799 units. Jupiter commands a 24.34 percent share on this list. The TVS Jupiter was also the 2nd best-selling scooter in Feb 2023 after the Honda Activa.
There was a YoY de-growth of 1.40 percent reported for the TVS XL, of which 35,346 units were sold in domestic markets last month. This was as compared to 35,848 units sold in Feb 2022. Apache sales surged 112.94 percent YoY to 34,935 units from 16,406 units sold in Feb 2022.
At Nos. 3 and 4, TVS Apache and Raider also posted YoY growth at 112.94 percent and 105.82 percent to 34,935 units and 30,346 units respectively. These two bikes also found mention on the list of top 10 2 wheelers sold in Feb 2023.
TVS Ntorq sales dipped 25.74 percent YoY to 17,124 units in Feb 2023 even as sales had stood at 23,061 units in the same month last year. This was a volume de-growth of 5,937 units with a 7.73 percent share on this list.
Outstanding demand was seen for the iQube electric scooter in Feb 2023. Sales surged 593.57 percent to 15,522 units from 2,238 units sold in Feb 2022. The TVS iQube was also at No. 6 on the list of best-selling scooters last month.
TVS Sport sales increased 71.16 percent to 11,839 units in Feb 2023 while sales of Radeon dipped 16.29 percent to 8,212 units. YoY de-growth was also seen in the case of TVS Pep+ by 17.03 percent to 5,555 units as did sales of Zest (4,560 units), Star City (3,698 units) and RR310 (374 units).
TVS Exports Feb 2023 – Huge decline registered
TVS exports dipped 52.19 percent in Feb 2023. Exports stood at 44,470 units in the past month as against 93,014 units shipped in Feb 2022. It was also a MoM de-growth from 46,255 units exported in Jan 2023.
TVS Star City 125 was the most exported model from the company lineup last month. Exports stood at 18,250 units, a 48.63 percent YoY decline from 35,525 units exported in Feb 2022. This was a 17,275 unit volume de-growth with a 41.04 percent share.
Jupiter exports surged by 1781.34 percent YoY in Feb 2023 to 5,343 units from 284 units exported in Feb 2022. Thereafter, exports dipped for the Sport (5,148 units), Star City (4,876 units) and Apache (4,671 units). Increased demand by 2.99 percent was seen in the case of TVS Ntorq to 2,686 units in Feb 2023 from 2,608 units shipped in Feb 2022 while Raider exports fell by 50 percent to 1,910 units in the past month from 3,820 units exported in Feb 2022.
TVS Victor exports remained at 800 units in both months in question while exports of XL dipped 62.64 percent YoY to 612 units in Feb 2023 from 1,638 units sold in Feb 2022. TVS Wego exports improved by 213.04 percent to 144 units from 46 units exported in Feb 2022 while RR310 exports fell by 76.38 percent to just 30 units even as there had been 127 units exported in Feb 2022. Radeon exports were down to 0 units last month from 280 units shipped in Feb 2022.
Source: Bike - rushlane.com
