TVS witnessed outstanding demand for its 2W EV lineup as its e-scooter registered a growth of 56.67% with sales increasing from 16,782 units in Nov 2023 to 26,292 units in Nov 2024.
TVS Motor Company, a leading manufacturer of both two and three wheelers, reported improved sales in November 2024 on a YoY basis while its MoM performance showed some constraint. The company reported total sales of 4,01,250 units in Nov 2024, reflecting a 10% increase.
This was when compared to 3,64,231 units in November 2023 which related to a 37,019 unit volume growth. The company however witnessed lower MoM performance. Total sales (2+3W) (domestic + exports) dipped by 17.95% from 4,89,015 units sold in Oct 2024. This was a volume decline of 87,765 units.
TVS Sales Nov 2024 – YoY Growth
Here we breakup sales on a YoY vs MoM basis. It shows that the company performed very well in Nov 2024 when compared to sales of Nov 2023. However, every segment suffered a decline on a MoM basis. Motorcycle sales were up by 4.29% YoY to 1,80,247 units in Nov 2024, a 7,411 unit volume growth over 1,72,836 units sold in Nov 2023.
Motorcycles command a 45.93% share led by the Jupiter and Raider. 2025 TVS Apache RTR 160 4V was launched in mid-Nov giving it some added sporty appeal. This will allow this sporty track oriented bike to take on its competitors Hero Xtreme 160R, Honda Hornet 2.0 along with the new Pulsar N160 and Pulsar NS160 on a relatively better footing.
Scooter sales also grew by 21.94% YoY to 1,65,535 units in Nov 2024. This was up from 1,35,749 units sold in Nov 2023 relating to a 29,786 unit volume growth. Scooters command a 42.18% share in the company lineup. It was the company’s e-scooter segment, that currently consists of the iQube, that saw the highest growth in Nov 2024. Sales were up 56.67% YoY to 26,292 units over 16,782 units sold in the same month last year.
The XL moped too received added attention from buyers last month. Sales went up by 7.29% to 46,691 units over 43,518 units sold in Nov 2023. This took total 2W domestic sales to 3,05,323 units in Nov 2024, a 6.38% YoY growth from 2,87,017 units sold in the same month last year. Exports of the company too surged by 33.90% YoY to 87,150 units. This along with improved domestic sales took total 2W sales to 3,92,473 units. This was an 11.47% YoY growth from 3,52,103 units sold in Nov 2023.
3Ws too saw an improved demand in domestic markets by 8.01% to 2,172 units over 2,011 units sold in Nov 2023. However, 3W exports dipped by 34.71% YoY to 6,605 units. Total 3W sales thus suffered a 27.63% decline to 8,777 units in the past month. Growth of 6.39% was seen in total 2+3W domestic sales to 3,07,495 units while total exports went up by 24.67% to 93,755 units.
TVS Sales Nov 2024 – MoM Decline
Month-on-month (MoM) sales of TVS declined across all segments in Nov 2024. Motorcycle sales were down by 21.91% while scooter sales suffered a 14.43% de-growth. E-scooter sales also went down by 10.29 over 29,308 units sold in Oct 2024 while Moped sales dipped by 13.37% when compared to 53,898 unit sales of Oct 2024. This took total 2W domestic sales down 21.81% while 2W exports fell marginally by 0.59% from 87,670 units of the previous month.
Sales also declined across the 3W segment. It fell by 22.92% in domestic markets from 2,818 units sold in Oct 2024 while exports slipped by 17.83% MoM. Total 3W sales thus suffered a 19.15% MoM de-growth over 10,856 units of Oct 2024 to 8,777 units of Nov 2024. Total domestic (2+3W) fell by 21.82% while total exports suffered a 2.04% MoM decline.
Source: Bike - rushlane.com
