TVS Jupiter, XL and Apache along with the Ntorq together commanded a 67% share of the company portfolio, reaching new heights with improved YoY sales
TVS Motor Company recorded monthly domestic two wheeler sales at 2,53,971 units in July 2024, a growth of 7.97% over 2,35,230 units sold in the month of July 2023. This was a volume growth of 18,741 units. Most models in the company portfolio have shown off a distinctive improvement in YoY sales except for the Raider and Apache 310.
TVS YoY Sales Breakup July 2024
TVS Motor showed off solid performance in July 2024 with a significant improvement in sales. It was the Jupiter that was most in demand with 74,663 units sold reflecting a 12.38% YoY increase when compared to 66,439 units in July 2023. This scooter commanded a 29.40% market share and was also the 2nd best-selling scooter in the country after the Honda Activa. In fact, TVS had three of its models on this list with the Ntorq and iQube, featuring at Nos. 6 and 7 respectively.
TVS XL moped posted a 3.74% YoY improvement in sales to 37,563 units, up from 36,208 units sold in July 2023 while the Apache showed off a 36.76% YoY growth to 30,681 units, a marked improvement over 22,246 units sold in the same month last year. The Apache was also the 5th best-selling motorcycle last month, leading over the Bajaj Platina and Honda Unicorn by significant numbers.
YoY sales of the Ntorq saw a growth of 3.83% to 26,829 units in the past month, up 990 units over 25,839 units sold in July 2023. However, sales of the Raider dipped by 33.48% to 24,547 units, a considerable volume decrease of 12,353 units when compared to 36,900 units sold in July 2023. TVS iQube, the electric scooter, saw outstanding demand in July 2024 with 21,064 units sold. This was a massive 58.30% YoY improvement from 13,306 units sold in the same month last year. The iQube currently commands an 8.29% share in this list.
Sales growth was also recorded for the TVS Sport by 1.39% and the Radeon by 9.13 percent to 12,106 units and 10,510 units respectively while the Zest too showed off a 41.76% YoY growth with 10,343 units sold last month. Star City (3,853 units) and Ronin (1,781 units) logged in 22.47% and 2.24% YoY growth respectively. However, sales of the Apache 310 saw a sharp decline of 91.09% to just 31 units sold last month while there had been 348 units sold in July 2023.
TVS Sales July 2024 – MoM Performance
TVS sales performance on a MoM basis was rather lackluster. Sales dipped by 0.69% over 2,55,723 units sold in June 2024 with a large number of models noting lower sales. Jupiter sales improved 3.55% MoM over 72,100 units sold in June 2024 relating to a 2,563 unit volume growth. However, TVS XL saw a sharp decline of 7.02%. Apache sales dipped by 17.44% while Ntorq and Raider sales fell by 3.53% and 17.77% respectively.
With demand for electric two wheelers on the rise, TVS iQube has seen sales improve by 38.49% MoM from 15,210 units sold in June 2024. TVS was also the 2nd best-selling electric two wheeler maker after Ola Electric to command an 18.09% share in this segment.
TVS Sport and Radeon sales were up 4.19% and 2.30% MoM while Zest and Star City sales increased by even larger proportions by 17.82% and 718.05% respectively. TVS Ronin and Apache 310 ended with 1.82% and 86.81% MoM decline.
Source: Bike - rushlane.com
