TVS Motor

Image – Aaditya NayakAlthough the ex-showroom prices of iQube are now higher, customers will be paying almost the same amount as earlierFollowing the government’s directive, electric two-wheeler manufacturers have started adding the charger as part of standard equipment. Earlier, several of the leading OEMs including TVS required customers to pay extra for the charger. With the cost of charger included, iQube is now available at Rs 1.21 lakh (effective on-road, Bengaluru).Prices of iQube will vary based on availability and quantum of state subsidy. Central subsidy under FAME II is Rs 51,000 for iQube. Karnataka is among the states that no longer offer state subsidy. iQube in Delhi is eligible for a state subsidy of Rs 17,000. Effective on-road price of iQube in Delhi is Rs 1.06 lakh.TVS iQube new pricesWhen the charger was not offered as standard, TVS iQube was available at a starting price of Rs 1.56 lakh. With the 650-watt charger now included, iQube base variant is now available at a starting price of Rs 1.66 lakh (ex-showroom, excluding FAME-II subsidy).For iQube S variant, ex-showroom price is now Rs 1.68 lakh. Here also, prices have been increased by around Rs 9,000. With the FAME II subsidy, effective on-road price of iQube S variant is Rs 1.32 lakh. iQube S customers will need to pay additional Rs 9,440, which is charged for software upgrade.TVS iQube Mega Delivery Event In PuneWhile technically the prices of iQube have increased, customers will be paying almost the same amount as earlier. The only difference is that cost of charger is now included in the cost of vehicle. So, there is no additional cost burden on iQube customers.TVS to refund iQube ownersFollowing government’s directive, OEMs like TVS, Ather Energy, Ola Electric and Hero MotoCorp have decided to refund any amount that was charged in excess of Rs 1.50 lakh. TVS liabilities are relatively less in this context, as iQube ex-showroom price was lower than several of its rivals. At most locations, iQube was priced just a little above Rs 1.50 lakh. The average amount paid over Rs 1.50 lakh is around Rs 1,700 per scooter. Overall refunds to be issued by TVS is around Rs 15-16 crore.It is a bit unsettling to see the issues linked to FAME II subsidy. The electric two-wheeler segment is just starting to gather pace and such issues can create problems. One recent example is 23 percent drop in MoM growth in April 2023. In case of iQube, it had achieved the 1 lakh cumulative sales milestone in April. However, its MoM growth fell by 48 percent. According to TVS, the drop is due to reduced production, triggered by ‘AIS-156 changeover and supply chain challenges’.It is important that OEMs follow ethical practices to create trust and confidence among customers. While the charger issue seems to be largely resolved with the refund plan, such things should not have occurred in the first place. The fact that the matter was identified through whistle blower emails raises several questions. More

Image – Bharat TVSTVS Motor production and sales of premium two-wheelers have been severely affected due to AIS156 changeover and shortage of semiconductors
Sales of TVS Motor Limited increased by 3.70 percent YoY while MoM sales dipped 3.45 percent in April 2023. The TVS iQube has been seeing outstanding demand and sales of this electric scooter has reached an important sales milestone to 1 lakh units.
Total sales (domestic + exports – 2W and 3W) in the past month stood at 3,06,224 units, up 3.70 percent YoY over 2,95,308 units sold in April 2022. This was a volume growth of 10,916 units. It was however, a 3.45 percent MoM decline in sales (total 2+3W) from 3,17,152 units sold in March 2023 relating to a volume decline of 10,928 units.
TVS 2W Sales April 2023
Taking into account motorcycle sales, it was a YoY growth of 9.59 percent to 1,52,365 units in April 2023, up from 1,39,027 units sold in April 2022. Motorcycles command a 51.69 percent share. MoM sales also saw positive results with a 7.87 percent growth over 1,41,250 units sold in March 2023 when share percentage stood at 45.93. Scooter sales also increased YoY to 1,07,496 units, up 5.17 percent from 1,02,209 units sold in April 2022. However, MoM sales dipped 16.55 percent from 1,28,817 units sold in March 2023.
Electric Scooter sales also received a 338.52 percent YoY boost. The iQube electric scooter in this segment registered sales of 6,227 units, up from just 1,420 units sold in April 2022. Noting this increased demand, the company will be boosting production of this electric scooter from May 2023. MoM sales however, dipped 59.47 percent from 15,364 units sold in March 2023 relating to a 9,137 unit volume decline.
TVS Motor Sales April 2023
YoY and MoM dip in sales was seen in the case of TVS XL100 moped. Sales fell to 34,925 units in April 2023, down 9.95 percent from 38,786 units sold in April 2022. It was also lower by 6.85 percent when compared to 37,492 units sold in March 2023.
TVS Motor Sales April 2023
Total 2W domestic sales increased by 29.02 percent YoY but fell by 3.25 percent MoM to 2,32,956 units in April 2023. There had been 1,80,553 units sold in April 2022 but in March 2023 total 2W domestic sales had been at 2,40,780 units. On the other hand, 2W exports took a fall both in terms of YoY and MoM shipments.
Exports fell by 37.85 percent YoY to 61,830 units from 99,489 units shipped in April 2022. On a MoM basis, it was a 7.41 percent de-growth over 66,779 units shipped in March 2023. This took total 2W sales to 2,94,786 units in April 2023, up 5.27 percent over 2,80,022 units sold in April 2022 but down 4.15 percent over 3,07,559 units sold in March 2023.
TVS Motor Sales April 2023
TVS 3W Sales and Exports April 2023
Three wheeler domestic sales improved by 19.07 percent YoY to 1,605 units from 1,348 units sold in April 2022 with a 14.03 percent share on this list. It was also a 20.22 percent MoM growth from 1,335 units sold in March 2022 when share had stood at 13.92 percent. 3W export figures fell on a YoY basis by 29.45 percent to 9,833 units in April 2023 from 13,938 units sold in April 2022. This led to a 4,105 unit volume de-growth. MoM exports however grew by 19.07 percent from 8,258 units shipped in March 2023. TVS Motor 3W exports command a 85.97 percent share.
Total 3W sales were brought down by lower exports last month to 11,438 units, a dip of 25.17 percent from 15,286 units sold in April 2022 while MoM sales improved by 19.23 percent as compared to 9,593 units sold in March 2023. Domestic 2+3W sales improved by 28.95 percent to 2,34,561 units on a YoY basis but fell by 3.12 percent MoM over 2,42,115 units sold in March 2023. Exports of 2+3Ws were lower both on YoY and MoM basis to 71,663 units in April 2023. More

New TVS Apache 160TVS has registered YoY growth in domestic two wheeler sales in March 2023 while exports fell significantly
TVS Motor Company registered a growth of 4.76 percent in two wheeler sales (domestic + exports) in March 2023. Total sales increased from 2,90,810 units sold in March 2022 to 3,05,371 units in March 2023. It was the TVS Jupiter that found most demand in domestic markets while it was the Star City 125 that commanded the export list. There were a total of 2,40,780 units sold in March 2023, relating to a 22.25 percent YoY growth when compared to 1,96,956 units sold in March 2022. This was a 43,824 unit volume growth.
TVS Jupiter was the highest selling model in the company lineup in domestic markets. Sales surged 5.48 percent YoY to 58,874 units in March 2023 from 55,813 units sold in March 2022. This related to a volume growth of 3,061 units with the Jupiter commanding a 24.45 percent share. TVS Jupiter was also the second best-selling scooter in FY 2023 after the Honda Activa, with 7,29,546 units sold in FY 2023.
TVS Sales Breakup March 2023 – Jupiter No 1
At No. 2 was the TVS XL100 moped saw its sales dip 2.22 percent YoY to 36,814 units in March 2023 from 37,649 units sold in March 2022. It was followed by the TVS Apache with a 32.02 percent YoY growth to 36,226 units in the past month from 27,439 units sold in the same month a year ago. It was a 155.62 percent YoY growth for the TVS Raider of which the company sold 31,002 units in March 2023 from 12,128 units sold in March 2022. This was a difference of 18,874 units with the Raider commanding a 12.88 percent share on this list.
TVS Ntorq sales also improved by 14.52 percent YoY to 27,284 units in March 2023 but the highest percentage growth was seen for the TVS iQube that increased by 754.03 percent YoY. Sales of the iQube stood at 15,364 units in March 2023 from 1,799 units sold in March 2022. This was the 5th consecutive month that the iQube Electric has registered sales above 10,000 units.
TVS Domestic Sales 2W – March 2023
TVS also posted YoY sales growth for the Sport (13,158 units) and Pep+ (8,330 units) by 14.06 percent and 38.28 percent respectively. However, thereafter, each of the models saw lower sales. Radeon sales dipped 14.39 percent to 8,186 units while Zest sales were down by 35.66 percent to 3,201 units. Star City sales fell by 66.31 percent to 1,931 units and RR310 fell by 13.68 percent to 410 units in March 2023.
TVS Domestic Sales 2W – March 2023
TVS Exports dip in March 2023
 Exports fell 31.18 percent in March 2023 to 64,591 units, down from 93,854 units exported in March 2022. This was a volume de-growth of 29,263 units. It was the TVS Star City 125 that topped the export list in March 2023 with 27,136 units shipped, down 22.92 percent from 35,206 units exported in March 2022. The Star City 125 currently commands a 42.01 percent share on this list.
Jupiter exports stood at 9,132 units with a 14.14 percent share. It was followed by the Ntorq with a 132.27 percent YoY growth to 5,370 units in March 2023, up from 2,312 units sold in March 2022. YoY exports dipped for the Apache (5,036 units) and Sport (3,855 units) by 51.28 percent and 23.42 percent respectively. Raider exports also fell by 52.20 percent YoY to 3,346 units in March 2023 from 7,000 units exported in March 2022.
TVS Exports 2W – March 2023
TVS Wego exports were at 1,262 units while Victor also posted a YoY growth of 133.33 percent to 1,120 units from 480 units sold in March 2022. TVS XL exports were at 678 units while RR310 exports improved by 50 percent to 90 units from 60 units shipped in March 2022. More

TVS Raider is now available in single seat, split seat and SmartXonnect variant; prices start at Rs 93,7192023 TVS Raider Single SeatAiming to improve overall comfort and convenience, TVS has launched a single seat variant of Raider 125cc commuter bike. It is the new base-spec variant, around Rs 1,000 cheaper than the split seat variant that starts at Rs 94,719 (ex-sh, Delhi). Top-spec SmartXonnect variant, that also has split seats, is priced at Rs 1,00,820.Another update for TVS Raider is that the drum brake variant has been discontinued. It was the most affordable variant, available at a starting price of Rs 86,803. Mechanically, there are no change to TVS Raider.2023 TVS Raider Prices – April 2023TVS Raider single seat variantRaider’s single seat has the typical profile seen with other commuters in 125cc segment. Pillion seat section is slightly elevated, which helps achieve a sportier profile. This is especially true when compared to other commuters that have a completely flat seat design. TVS Raider has probably the most dynamic styling in its class. It competes with bikes like Honda SP125, Hero Glamour Xtec and Bajaj Pulsar 125.Primary motive for launching a single seat version of Raider is to improve the bike’s positioning as a commuter bike. While split seats are sportier, a single seat makes more practical sense. It can support a wide variety of cargo and families with children. With the single seat option for Raider, TVS should be able to target a larger customer base. Take a look at the detailed walkaround video shared by Motorbuddy channel.[embedded content][embedded content]The only limitation with Raider single seat is that it is available in just a single colour option of Striking Red. In comparison, the split seat variant is available in colour options of Fiery Yellow, Blazing Blue, Striking Red and Wicked Black. Top-spec SmartXonnect variant is available with colour options of Fiery Yellow and Wicked Black.TVS Raider single seat specsApart from the saddle, nothing else has changed for single seat Raider 125. Powering the bike is a 124.8cc, single cylinder, air and oil cooled motor that generates 11.4 PS of max power and 11.2 Nm of peak torque. It is mated to a 5-speed gearbox. Raider offers best-in-class acceleration, with 0 to 60 kmph achieved in 5.9 seconds. Fuel efficiency is also improved with technologies such as engine start-stop and Ecothrust Fi.Suspension system comprises telescopic forks at front and gas-charged, 5-step adjustable monoshock unit at rear. TVS Raider 125 has 17-inch wheels at both ends, shod with 80/100 front and 100/90 rear tyres. With the drum variant discontinued, Raider has 240 mm disc at front and 130 mm drum at rear. Synchronized braking technology (SBT) is standard across all variants.While single seat and split seat variants of Raider have a reverse LCD screen, top-spec SmartXonnect has segment-first 5-inch TFT screen. Top-spec SmartXonnect variant is probably the most desirable, as it offers a range of features such as on-the-go call management, voice assist, weather updates, navigation, last parked location, ride report, service booking, etc. More

TVS iQube Electric registered sales above 10,000 units for the 5th consecutive monthTVS ApacheTVS Motor Company sold a total (domestic + exports) of 3,17,152 (2W and 3W) in March 2023. This was a 2.99 percent YoY growth from 3,07,954 units sold in March 2022. It was a YoY volume growth of 9,198 units.TVS Sales March 2023 vs March 2022 – YoYTwo wheeler sales in domestic markets stood at 2,40,780 units, up 22.47 percent YoY as against 1,96,596 units sold in March 2022 with a 44,184 unit volume increase. Out of these sales, motorcycle sales were at 1,41,250 units in March 2023, down 12.01 percent when compared to 1,60,522 units sold in March 2022.TVS Motor Sales March 2023 vs March 2022 – YoY analysisMotorcycle sales command a 45.93 percent share. Scooter sales, on the other hand, improved by 35.96 percent YoY to 1,28,817 units sold in March 2023 from 94,747 units sold in March 2022 relating to a 35,070 unit volume increase. Scooters command a 41.88 percent share.There were also 15,364 units of the iQube, TVS’ sole electric model sold in March 2023, 754.03 percent YoY growth over 1,799 units sold in March 2022. TVS also has the XL100 moped in its company lineup of which 37,492 units were sold last month, relating to a 0.42 percent YoY de-growth from 37,649 units sold in March 2022.TVS Motor Two Wheeler Sales March 2023 BreakupExports of two wheelers dipped 30.41 percent YoY to 66,779 units in March 2023 from 95,962 units shipped in March 2022. This took total two wheeler sales up 5 percent YoY to 3,07,559 units in March 2023 from a total of 2,92,918 units sold in March 2022.TVS Motor Sales March 2023 vs Feb 2023 – MoM AnalysisTVS Motors 3W Sales March 2023Three wheeler sales (domestic + exports) in March 2023 dipped 36.20 percent to 9,593 units, down from 15,036 units sold in March 2022. This was a 5,443 unit volume de-growth. 3W domestic sales increased by 4.79 percent to 1,335 units in March 2023 from 1,274 units sold in March 2022 with a 31.93 percent share. 3W exports on the other hand, dipped 39.99 percent to 8,258 units in the past month from 13,762 units shipped in the same month last year.Taking total Domestic 2+3 wheeler sales into account, sales improved by 22.36 percent to 2,42,115 units in March 2023 from 1,97,870 units sold in March 2022. This was a 44,245 unit volume growth with a 76.34 percent share. Exports (2+3W) fell by 31.61 percent YoY to 75,037 units in March 2023 from 1,09,724 units sold in March 2022. This took total sales of the company to 3,17,152 units in March 2023 up 2.99 percent from 3,07,954 units sold in March 2023.When assessing sales in the financial year 2022-23, total two wheeler sales of TVS Motor stood at 8.40 lakh units, up from 8.15 lakh units registered in the same period of 2021-22. Three wheeler sales stood at 0.29 lakh units in FY 2022-23, down from 0.42 lakh units sold in FY 2021-22. Total exports were at 1.85 lakh units the last quarter down from 3.15 lakh units shipped in the third quarter of 2021-22. More

With good response to iQube, TVS is looking to expand it EV portfolio with multiple new productsImage for illustration purpose onlyMainstream two-wheeler manufacturers like TVS, Bajaj and Hero MotoCorp currently have a single product each in their electric portfolio. TVS is looking to strengthen its presence by launching new products in the range of 5kW to 25kW. These new products will be launched over the next 18 months.TVS plans were revealed by the company’s CEO KN Radhakrishnan in a recent conference. TVS new electric two-wheelers will be getting a new powertrain. This is evident from a recent patent filed by the company. This new powertrain is what could be powering the upcoming Jupiter electric scooter, which will rival Activa electric next year.TVS Jupiter Electric Scooter Patent LeaksTVS Jupiter Electric Scooter Patent Leaks – More powerful powertrain, higher rangeiQube utilizes a hub motor that has its advantages such as silent operations and minimal energy loss. However, a hub motor may not be able to perform that well in cases where power output is more than 5kW. As TVS new electric two-wheelers will be in range of 5kW to 25kW, a new mid-mounted motor is being developed. A recent patent filing has revealed some interesting details about the new electric powertrain.A simple transmission system has been used to connect the mid-mounted motor to the rear wheel. A unique aspect is that the transmission casing doubles up as the swingarm. This is likely to help reduce the overall weight of the intended electric two-wheeler. At the motor’s end, the casing is linked to a pivot. At the wheel end, the casing supports the rear axle.TVS Jupiter Electric Scooter Patent LeaksA drive gear transfers power from the motor to the rear wheel. TVS has termed it as an ‘endless transmission drive’. The patent mentions the possibility of using either a chain drive or a belt drive. As compared to the hub motor where the motor and wheel spin at the same speed, this new powertrain is characterized by a speed reduction ratio. It means that the speed at which the motor and rear wheel spin will be different.TVS new electric powertrain vs rivalsMid-mounted motors are preferred for vehicles with higher power output. Similar systems are already in use with electric scooters like Ather 450X and Ola S1 Pro. TVS will probably be looking to create a new range of performance-oriented electric two-wheelers with this new powertrain. For reference, iQube has a 4.4 kW setup that achieves 0-40 kmph in just 4.2 seconds.TVS Jupiter electric with the new mid-mounted motor will deliver a better overall ride experience. It will rival the upcoming Honda Activa electric scooter, which is planned for launch in Jan 2024. In the petrol scooter segment, Activa and Jupiter are the top 2 selling scooters in India. The rivalry is likely to continue in the EV era too.With its new electric models, TVS will be able to target a wider customer base. As of now, iQube has already entered the list of top 10 bestselling scooters in the country. Sales in February 2023 were at 15,522 units, a YoY gain of 593.57%. With a diversified electric portfolio, TVS will also be able to increase market share. Enthusiasts are also waiting for launch of iQube ST variant that was announced last year. More

TVS Motor reported significant growth in domestic markets while exports dipped by over 50 percent in Feb 2023TVS iQube Mega Delivery Event In PuneTVS Motor total two wheeler sales (domestic + exports) stood at 2,65,872 units in Feb 2023. This was against 2,66,212 units sold in Feb 2022. Domestic two-wheelers saw a 27.83 percent YoY growth with sales of 221,402 units in February 2023. This was as against 1,73,198 units sold in Feb 2022 relating to a volume growth of 48,204 units.Maximum sales growth was reported for the iQube electric scooter which posted a 593.57 percent YoY increase in sales. Exports on the other hand dipped 52.19 percent to 44,470 units in Feb 2023 from 93,014 units shipped in Feb 2022. This was a volume de-growth of 48,544 units.TVS Motor Domestic Sales Feb 2023TVS Domestic Sales Feb 2023In domestic markets it was the TVS Jupiter that saw the most sales. Sales in the past month stood at 53,891 units, a 14.44 percent YoY growth over 47,092 units sold in Feb 2022 relating to a volume growth of 6,799 units. Jupiter commands a 24.34 percent share on this list. The TVS Jupiter was also the 2nd best-selling scooter in Feb 2023 after the Honda Activa.There was a YoY de-growth of 1.40 percent reported for the TVS XL, of which 35,346 units were sold in domestic markets last month. This was as compared to 35,848 units sold in Feb 2022. Apache sales surged 112.94 percent YoY to 34,935 units from 16,406 units sold in Feb 2022.TVS Domestic sales breakup % share Feb 2023At Nos. 3 and 4, TVS Apache and Raider also posted YoY growth at 112.94 percent and 105.82 percent to 34,935 units and 30,346 units respectively. These two bikes also found mention on the list of top 10 2 wheelers sold in Feb 2023.TVS Ntorq sales dipped 25.74 percent YoY to 17,124 units in Feb 2023 even as sales had stood at 23,061 units in the same month last year. This was a volume de-growth of 5,937 units with a 7.73 percent share on this list.Outstanding demand was seen for the iQube electric scooter in Feb 2023. Sales surged 593.57 percent to 15,522 units from 2,238 units sold in Feb 2022. The TVS iQube was also at No. 6 on the list of best-selling scooters last month.TVS Motor Sales and Exports Feb 2023TVS Sport sales increased 71.16 percent to 11,839 units in Feb 2023 while sales of Radeon dipped 16.29 percent to 8,212 units. YoY de-growth was also seen in the case of TVS Pep+ by 17.03 percent to 5,555 units as did sales of Zest (4,560 units), Star City (3,698 units) and RR310 (374 units).TVS Exports Feb 2023 – Huge decline registeredTVS exports dipped 52.19 percent in Feb 2023. Exports stood at 44,470 units in the past month as against 93,014 units shipped in Feb 2022. It was also a MoM de-growth from 46,255 units exported in Jan 2023.TVS Exports Feb 2023TVS Star City 125 was the most exported model from the company lineup last month. Exports stood at 18,250 units, a 48.63 percent YoY decline from 35,525 units exported in Feb 2022. This was a 17,275 unit volume de-growth with a 41.04 percent share.Jupiter exports surged by 1781.34 percent YoY in Feb 2023 to 5,343 units from 284 units exported in Feb 2022. Thereafter, exports dipped for the Sport (5,148 units), Star City (4,876 units) and Apache (4,671 units).  Increased demand by 2.99 percent was seen in the case of TVS Ntorq to 2,686 units in Feb 2023 from 2,608 units shipped in Feb 2022 while Raider exports fell by 50 percent to 1,910 units in the past month from 3,820 units exported in Feb 2022.TVS Exports breakup % share Feb 2023TVS Victor exports remained at 800 units in both months in question while exports of XL dipped 62.64 percent YoY to 612 units in Feb 2023 from 1,638 units sold in Feb 2022. TVS Wego exports improved by 213.04 percent to 144 units from 46 units exported in Feb 2022 while RR310 exports fell by 76.38 percent to just 30 units even as there had been 127 units exported in Feb 2022. Radeon exports were down to 0 units last month from 280 units shipped in Feb 2022. More