TVS iQube e-scooter has seen sales surpass the 1.5 lakh unit mark since its debut in January 2020
TVS Motor Company sales improved both on a YoY and MoM basis in July 2023. YoY growth was reported both across 2 wheeler and 3 wheeler segments in domestic markets, though exports suffered de-growth. Total 2W and 3W sales (domestic + exports) improved by 3.60 percent to 3,25,977 units in July 2023, up from 3,14,639 units sold in July 2022 relating to a 11,338 unit volume growth. On a MoM basis, sales grew by 3.20 percent from 3,16,411 units sold in June 2023.
TVS 2W Sales and Exports July 2023
In domestic markets, 2W sales growth was reported across motorcycles, scooters, and moped, to a total of 2,35,230 units in July 2023, up 16.48 percent from 2,10,942. 2W exports however dipped 21.12 percent YoY to 77,077 units in July 2023 from 97,716 units sold in July 2022.
MoM domestic sales remained more or less flat with a 0.26 percent de-growth from 2,35,833 units sold in June 2023. MoM exports increased by 12.41 percent from 68,568 units shipped in June 2023. The 2W segment currently commands a 75.32 percent share.
Motorcycles saw a 2.40 percent YoY and 3.87 percent MoM growth in sales in July 2023 to 1,53,942 units. There were 1,50,340 units sold in July 2022 and 1,48,208 units sold in June 2023 respectively. Scooter sales also improved 4.67 percent YoY and 0.48 percent MoM to 1,21,941 units while sales of the iQube electric scooter surged by 111.07 percent on a YoY basis to 13,306 units from 6,304 units sold in July 2022. MoM sales saw a 7.99 percent de-growth from 34,829 units sold in June 2023.
Moped sales also improved 10.99 percent YoY and 4.58 percent MoM to 36,424 units. This took 2W total sales (domestic + exports) to 3,12,307 units, up 4.22 percent YoY from 2,99,658 units sold in July 2022. MoM sales improved by 2.60 percent from 3,04,401 units sold in June 2023.
TVS Motor 3W Sales and Exports July 2023
Where three wheeler sales were concerned, TVS Motor has reported a YoY de-growth in total (domestic + export) sales. Sales dipped 8.75 percent YoY to 13,670 units in July 2023 from 14,981 units sold in July 2022. MoM sales improved by 13.82 percent from 12,010 units sold in June 2023.
3W domestic sales were higher by 4130.68 percent YoY to 1,534 units in July 2023 from 665 units sold in July 2022 while MoM sales saw a 6.97 percent growth over 1,434 units sold in June 2023. Exports on the other hand fell YoY by 15.23 percent to 12,136 units in the past month from 14,316 units shipped in July 2022. MoM exports improved by 14.75 percent from 10,576 units shipped in June 2023.
Total 2W+3W sales saw a 16.86 percent growth on a YoY basis to 2,36,764 units in July 2023 from 2,02,607 units sold in July 2022 while MoM sales fell marginally by 0.21 percent from 2,37,267 units sold in June 2023. Exports on the other hand has suffered a 20.37 percent de-growth YoY to 89,213 units in July 2023 from 1,12,032 units shipped in July 2022 while MoM exports improved by 12.72 percent over 79,144 units shipped in June 2023.
Source: Bike - rushlane.com
