TVS Motor reported their highest ever EV monthly sales in October 2024 relating to a growth of 45%
TVS Motor Company, a leading two and three-wheeler manufacturer with a diverse portfolio across various segments, reported improved sales in October 2024. The company has recorded total sales (2+3W) at 4,89,015 units, up 12.49% over 4,34,714 units sold in October 2023. TVS also showed off a marginal MoM growth at 1.35% from 4,82,495 units sold in Sept 2024.
TVS YoY Sales – Oct 2024
In October 2024, TVS Motor reported sales growth across all segments with the exception of 3W exports which in turn brought down total 3W sales. Motorcycle sales improved by 14.29% YoY to 2,30,822 units, up from 2,01,965 units sold in Oct 2023. This related to a 28,857 unit volume growth with motorcycles commanding a 48.27% share. TVS Raider 125 iGO was launched last month, marking its entry into the premium and sporty 125cc commuter motorcycle segment.
Scooter sales also saw double digit YoY growth to 1,93,439 units in Oct 2024 from 1,65,135 unit sales of Oct 2023. A volume increase of 28,304 units and a 40.45% share was seen for the scooter segment. The company also sells the XL in the moped segment which also receives improved demand from buyers in India. Sales of the XL stood at 53,898 units, a 0.73% YoY growth from 53,510 units sold in Oct 2023. The XL currently holds an 11.27% share in the company portfolio.
Sales of the company’s e-scooter grew by a healthy 45.43% in the past month to 29,308 units. This was over 20,153 unit sales in Oct 2023. This took total 2W domestic sales to 3,90,489 units, up 13.20% over 3,44,957 units sold in Oct 2023 relating to a volume increase of 45,532 units. 2W exports also increased dramatically by 15.88% to 87,670 units in the past month. This was up by 12,017 units over 75,653 units shipped in the same month last year. Total 2W sales (domestic + exports) thus surged 13.68% to 4,78,159 units in Oct 2024.
The company’s 3W range that saw a 56.12% increase in domestic markets to 2,818 units in Oct 2024 over 1,805 units sold in Oct 2023, suffered a setback in terms of exports. Exports dipped 34.65% to 8,038 units in the past month from 12,299 units exported in Oct 2023. As a result of these declining exports, total exports fell by 23.03% to 10,856 units in the past month. Total domestic sales (2+3W) were at 3,93,307 units with a 13.42% YoY growth. Exports (2+3W) saw an 8.82% increase to 95,708 units. This was against 87,952 units shipped in Oct 2023.
TVS Motor MoM Sales Performance – Oct 2024
On a month-on-month (MoM) basis, TVS Motor showed off a 1.35% overall growth with total 2+3W sales at 4,89,015 units over 4,82,495 units sold in Sept 2024. Motorcycle sales were up 0.68% to 2,30,822 units while scooter sales rose by 3.58% from 1,86,751 units sold in Sept 2024. Moped sales fell by 3.36% but e-scooters accounted for a 1.41% MoM growth from 28,901 units sold in Sept 2024 to 29,308 units last month.
2W domestic sales grew by 5.78% while 2W exports suffered a 14.60% decline from 1,02,654 units shipped in Sept 2024 to 87,670 units in the past month. The 3W segment saw improved domestic sales by 19.91% but declining exports thus taking total 3W sales (domestic + exports) to 10,856 units, up 1.43% over 10,703 units sold in Sept 2024. The company ended its MoM sales with a 5.87% increase on domestic 2+3W sales but lower total exports (2+3W) by 13.78%.
Source: Bike - rushlane.com
