TVS Motor

TVS iQube electric scooterTVS iQube FAME-II linked price increase will be done in a staggered manner to ensure the electrification momentum is least impactedWith FAME II subsidies reduced for electric two-wheelers, several OEMs have announced price hikes. Subsidy under FAME II has been reduced from Rs 15,000 per kwh to Rs 10,000 per kwh. Also, max subsidy amount is now limited to 15% of the ex-factory pricing. This was 40 percent earlier.With significant reduction in FAME II subsidy, most OEMs have chosen to pass on the burden to consumers. Some OEMs like TVS have adopted a staggered approach, wherein prices will be increased gradually. This will reduce the overall cost burden on consumers and limit the impact on sales. TVS has also announced a loyalty programme to ease the impact of price hike.TVS iQube new prices – June 2023TVS iQube prices have been increased in the range of Rs 17,000 to Rs 22,000. The exact amount of price hike will depend on the variant. The new prices are effective from June 01, 2023. Before the revision in FAME-II, TVS iQube was eligible for subsidy of Rs 51,000. The base variant was priced at Rs 1.74 lakh, whereas iQube S variant came with a price tag of Rs 1.85 lakh.With the earlier subsidy, iQube standard variant was available at effective price of Rs 1.06 lakh in Delhi. With the new subsidy rates, iQube will cost around Rs 1.23 lakh. It remains to be seen what kind of an impact increased prices will have on sales of iQube electric scooter.Electric two-wheeler segment is expecting short-term erosion in sales. However, there’s unlikely to be any major impact in medium to long-term. There will be more clarity in the market in coming months, which can help boost sales. OEMs could also launch affordable, no-frills versions to attract customers.In addition to applying a gradual price increase strategy, TVS has also announced a special loyalty benefit programme for iQube customers. It will be applicable for folks who may have booked their iQube on or before May 20, 2023. The loyalty programme will be available only for a limited time period. It is meant to ease the cost burden, resulting from the revision in FAME II subsidy. Details of the loyalty programme will soon be published on the company’s website.iQube continues to register strong salesIn the last financial year, TVS iQube achieved the sales milestone of 1 lakh units. In May, retail sales were more than 20,000 units. Sales in coming months are expected to be just as good, as iQube has a healthy booking pipeline of more than 30,000 units. Even with the price hike, it appears that iQube will be able to increase its sales in the ongoing financial year.TVS continues to be committed towards promoting the use of sustainable mobility solutions. The company will take all steps, as necessary to accelerate faster adoption of EVs. TVS will also focus on development of overall electric vehicle ecosystem in the country. More

New TVS RaiderTVS posted a YoY growth in domestic sales in April 2023 while exports suffered de-growthTVS Motor Company has seen total sales (domestic + exports) improve on a YoY basis in April 2023. Total sales stood at 2,93,304 units in April 2023, up from 2,78,378 units sold in April 2022. The company however, reported a MoM de-growth in total sales which had stood at 3,05,371 units in March 2023.Total domestic sales stood at 2,32,956 units in April 2023, up 29.04 percent from 1,80,533 units sold in April 2022. This was a 52,423 units volume growth. It was TVS Jupiter that once again led the domestic sales list while TVS Star City 125 saw the most exports to global markets in the past month.TVS sales breakup April 2023TVS Sales Breakup April 2023TVS Jupiter scooter topped the domestic sales list with 59,583 units sold in the past month, down 2.25 percent over 60,957 units sold in April 2022. The Jupiter scooter was at No. 2 on the list of top 10 scooter sales last month, second to the Honda Activa. The Jupiter commands a 25.58 percent share in the company lineup.TVS Apache has seen YoY growth to 38,148 units in April 2023, up 419.59 percent when compared to 7,342 units sold in April 2022. Volume growth stood at 30,806 units. It was followed by the TVS XL moped, sales of which dipped 9.94 percent YoY to 34,925 units, from 38,780 units sold in April 2022.TVS sales breakup April 2023TVS Raider has seen the highest YoY growth in April 2023 as sales improved by 828.39 percent from 3,392 units sold in April 2022 to 31,491 units in the past month. In April 2023, the company also introduced a new base variant called the Raider Single Seat variant while the drum variant was discontinued.TVS Ntorq (26,730 units) and Sport (18,472 units) came in next in terms of domestic sales, both posting YoY growth of 5.79 percent and 42.15 percent respectively. Sales of the Radeon dipped 19.39 percent to 9,375 units last month from 11,630 units sold in April 2023 while iQube sales improved by 338.52 percent to 6,227 units in April 2023 from 1,420 units sold in April 2022. TVS Motor models such as the Star City (4,627 units), Pep+ (2,136 units), Zest (918 units) and RR310 (324 units) each saw YoY degrowth in April 2023.TVS Export YoY de-growth in April 2023Total exports of the company dipped by 38.32 percent in April 2023 to 60,348 units. This was down from 97,843 units sold in April 2022 relating to a 37,495 unit volume de-growth. Most models in the company lineup ended up in the red. TVS Star City 125 was the most exported model last month with 23,910 units shipped. This was a YoY de-growth of 36.94 percent from 37,919 units exported in April 2022. Star City exports also fell by 58.64 percent to 11,936 units last month from 28.860 units exported in April 2022.TVS exports breakup April 2023Ntorq sales improved YoY by 176.97 percent to 7,276 units from 2,627 units exported in April 2022. However, Apache exports fell by 55.04 percent to 5,292 units from 11,771 units exported in April 2022. Good demand was seen for the TVS Jupiter in global markets with 3,548 units shipped in the past month, up 5531.75 percent when compared to just 63 units exported in April 2022.Exports of Raider (3,024 units) and Sport (2,754 units) dipped YoY by 66.92 percent and 54.12 percent respectively. Victor (1,440 units) and Wego (1,078 units) posted YoY growth while Radeon (80 units) and RR310 (10 units) saw exports fall on a YoY basis. More

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