TVS iQube Electric scooter recorded highest sales of 23,887 units in August 2023 as compared to 4,418 units sold in August 2022
TVS Motor Company has seen positive sales in domestic markets in August 2023 where its diverse product portfolio stood it in good stead while on the other hand, exports finished in the red. The company had sold a total of 2,56,619 units in domestic markets in the past month relating to a 7.23 percent YoY growth. This was against 2,39,325 units sold in August 2022. Its global performance, however, slipped by 1.36 percent YoY to 73,821 units, down 1,017 units when compared to 74,838 units sold in August 2023.
TVS Jupiter Tops Domestic Sales List
In domestic markets, it was the TVS Jupiter that commanded the most attention despite a negligible YoY de-growth. Sales dipped albeit marginally to 70,065 units in August 2023 from 70,075 units sold in August 2022. TVS Jupiter was at No. 2 on the top 10 list of scooters sold last month, second to the Honda Activa and currently commands a 27.30 percent share in the company lineup.
In August 2023, the company also expanded the Jupiter lineup with the ZX Drum SmartXonnect variant which could stir up sales in the months ahead. TVS Raider has seen a 111.20 percent YoY growth to 42,375 units in the past month. This was over 20,064 units sold in August 2022 relating to a volume growth of 22,311 units.
Sales of the XL moped saw marginal improvement on a YoY basis to 34,495 units, up 0.02 percent from 36,489 units sold in August 2022. TVS Ntorq and iQube also posted YoY growth and while the Ntorq sales increased by 4.12 percent to 28,787 units, it was the iQube that reported a 440.67 percent increase in sales to 23,887 units in the past month, up from 4,418 units sold in August 2022.
Apache sales dipped 53.45 percent YoY to 18,863 units while the Sport commanded higher attention in domestic markets as sales increased by 44.98 percent to 12,819 units. TVS also had the Radeon (10,145 units), Zest (7,844 units), Star City (3,073 units), Ronin (2,021 units) and RR310 (245 units) on the sales list out of which Zest sales increased by 64.65 percent YoY.
TVS Exports Fall 1.36 percent YoY
The company’s exports were down in August 2023 by 1.36 percent. It was the Star City 125 that saw the highest exports at 31,519 units though this was a YoY de-growth of 0.33 percent when compared to 31,624 units sold in August 2022. The Star City 125 currently commands a 42.70 percent share in the company’s export portfolio.
On the other hand, TVS Star City exports went up by 52.99 percent to 17,406 units in August 2023 from 11,377 units shipped in August 2022. This resulted in a 6,029 unit volume growth. Apache exports dipped by 9.65 percent to 8,212 units last month from 9,089 units exported in August 2022 while Ntorq has seen a 14.16 percent improvement in exports to 6,660 units. This was against 5,834 units sold in August 2022.
TVS Jupiter exports escalated by 1537.94 percent YoY. It saw 4,619 units shipped last month, up from just 282 units exported in August 2022. Exports of the Sport (1,935 units) and Raider (1,924 units) posted YoY de-growth of 78.91 percent and 69.57 percent respectively.
Wego sales improved 95.12 percent to 640 units from 328 units on a Yoy basis while TVS Victor sales remained flat at 640 units in August 2023. The export list also included the Ronin (116 units) and Radeon (80 units) along with the XL (66 units) and RR310 (4 units) out of which the RR310 has seen a 96.04 percent YoY decline.
Source: Bike - rushlane.com
