The company showed a potent growth in exports, where 2W vehicles are concerned and expanding its global presence with new launches
India’s leading 2W and 3W manufacturer, TVS Motor, have been actively pushing its limits and expanding its lineup in India and abroad. The sales for the company have been rising and the same reflected in February 2024 sales charts as well. For TVS Motor, total sales (2W+3W) stood at 3,68,424 units.
TVS Sales February 2024
For the month of February 2024, TVS’ sales figures fell completely into the green. At least with the YoY analysis. There were quite a few segments where TVS faced a slight setback in MoM analysis. Motorcycles remained TVS’ highest selling genre with around 1,84,023 examples sold last month.
Motorcycles saw 45.77% YoY growth as opposed to 1,26,243 units sold in February 2023 and when compared to 1,55,611 units sold in January 2024, there was an 18.26% MoM growth. For TVS, motorcycles accounted for 51.43% sales, up from 47.16% in January 2024. Volume growth for motorcycles stood at 57,780 units YoY and 28,412 units MoM.
Next in line is Scooters with 1,32,152 units. TVS has upped the scooter game YoY with a 26.07% growth as opposed to 1,04,825 units a year ago. However, there was a negligible 0.10% MoM dip as the company sold 1,32,290 scooters a month before. Scooters accounted for 36.93% of TVS’ total sales. Volume gain stood at 27,327 units YoY.
The company’s electric scooter lineup saw 17,959 units which registered 15.7% YoY growth and 10.34% MoM growth when compared to 15,522 units a year ago and 16,276 units a month before. Electric scooter business accounted for a 5.02% share, but there was a 2,437 units YoY and 1,683 units MoM volume gain.
TVS is still the stalwart in mopeds and has aced this genre. With 41,635 mopeds sold, there was a 15.79% YoY growth and a 0.95% MoM decline. Volume gain YoY stood at 5,677 units YoY and volume loss MoM was 401 units. Mopeds account for 11.64% of TVS’ total sales. In domestic markets, TVS sold a total of 2,67,502 2W vehicles with 20.82% YoY growth and a 0.27% MoM decline.
Where TVS’ exports are concerned, the company shipped 90,308 units with almost double the numbers YoY at 97.94% growth and 46.36% MoM growth. Volume gained in exports was 44,684 units YoY and 28,604 units MoM. Domestic sales accounted for 74.76% and exports 25.24% of TVS’ total 2W sales. Speaking of, TVS sold 3,57,810 2W vehicles last month with 34% YoY and 8.45% MoM growth.
<img loading="lazy" decoding="async" width="1280" height="970" class="size-full wp-image-489685" src="https://www.rushlane.com/wp-content/uploads/2024/03/tvs-sales-february-2024-mom-min.jpg" alt="
TVS exports saw a major boost
TVS sold a total of 10,614 3W vehicles. Out of which, 2,066 units were sold in the domestic market and 8,548 units were shipped abroad with 19.46% and 80.54% shares respectively. There was a positive 16.33% YoY growth and a 10.84% MoM growth in 3W segment.
The company’s total domestic sales (2W+3W) was 2,69,568 units which witnessed a healthy 21.02% YoY growth, but a negligible 0.22% MoM decline. Total exports stood at 98,856 units, which is 85.11% YoY growth and 42.56% MoM growth. In total, TVS pushed out 3,68,424 vehicles out of the manufacturing facilities and witnessed 33.41% YoY growth and 8.52% MoM growth. Total volume gain was 92,274 units YoY and 28,911 units MoM.
Source: Bike - rushlane.com
