TVS reported rising demand for the iQube electric scooter in June 2023 with a 210 percent YoY growth
TVS Motor Company has reported its sales for the month of June 2023 wherein growth is seen across 2W and 3W domestic sales while exports decreased. The company registered a 2.56 percent YoY increase in overall sales. Total sales (2W+3W) (domestic + exports) improved to 3,16,411 units from 308,501 units in June 2022. MoM sales however, dipped by 4.29 percent from 3,30,609 units sold in May 2023.
In domestic markets, 2 wheeler sales growth was seen across motorcycles, scooters, and electric scooter while moped sales dipped. There were 1,48,208 units of motorcycles sold last month, a 1.46 percent YoY growth from 1,46,075 units sold in June 2023. This was a volume growth of 2,133 units with motorcycles commanding a 48.69 percent share in the company lineup. MoM sales however, fell by 8.65 percent from 1,62,248 units sold in May 2023.
TVS 2W Sales and Exports June 2023
Scooter sales grew both YoY and MoM by 10.45 percent and 17.60 percent respectively to 1,21,364 units in June 2023 to command a 39.87 percent share. There were 1,09,878 units sold in June 2022 and 1,03,203 units sold in May 2023.
TVS Motor sells the iQube in the electric scooter segment. Sales improved 209.88 percent YoY to 14,462 units in June 2023 from 4,667 units sold in June 2022. However, it was a MoM decline of 19.45 percent from 17,953 units sold in May 2023.
The XL100 moped, the only such model in the company lineup, has posted a YoY and MoM de-growth at 7.77 percent and 35.31 percent respectively to 34,839 units in June 2023. There were 37,762 units and 53,844 units sold in June 2022 and May 2023. This took total 2W domestic sales up 22.14 percent to 2,35,833 units in June 2023 from 1,93,090 units sold in June 2022 while MoM sales fell by 6.67 percent from 2,52,690 units sold in May 2023.
2W Exports on the other hand fell 31.86 percent YoY but improved 2.95 percent MoM to 68,568 units in June 2023. This was against 1,00,625 units shipped in June 2022 and exports of 66,605 units in May 2023. Thus total (2W + 3W) (domestic + exports) grew by 3.64 percent YoY but fell 4.66 percent MoM to 3,04,401 units in June 2023.
TVS Motor 3W Sales and Exports June 2023
Where three wheeler sales and exports were concerned, the company sold a total of 12,010 units in June 2023.This was an 18.77 percent YoY de-growth from 14,786 units sold in June 2022. MoM sales improved by 6.15 percent from 11,314 units sold in May 2023. Domestic 3W sales grew 49.06 percent YoY and 9.30 percent MoM to 1,434 units to command an 11.94 percent share on the company list. However, exports fell 23.50 percent YoY but improved 5.74 percent MoM to 10,576 units to hold an 88.06 percent share.
Total sales of 2+3W in domestic markets thus improved 22.27 percent YoY to 2,37,267 units from 1,94,052 units sold in June 2022 while MoM sales fell by 6.59 percent from 2,54,002 units sold in May 2023. Exports suffered a YoY de-growth of 30.85 percent to 79,144 units in June 2023 from 1,14,449 units sold in June 2022. MoM exports improved by 3.31 percent from 76,607 units shipped in May 2023.
Source: Bike - rushlane.com
