TVS Motor

New TVS Apache 160TVS Motor had the Jupiter scooter highest in demand in domestic markets while the Star City 125 found increased buyers in exportsTVS Motor Company has registered a YoY sales (domestic + exports) growth from 2,85,247 units in May 2022 to 3,17,249 units in May 2023. It was positive growth seen across domestic markets while exports fell substantially on a YoY basis.Sales in domestic markets stood at 2,52,690 units in May 2023, relating to a 31.97 percent YoY growth when compared to 1,91,482 units sold in May 2022. This was a volume increase of 61,208 units. It was also a MoM growth when compared to 2,32,956 units sold in April 2023.TVS Motor Domestic Sales May 2023Topping domestic sales charts was the TVS Jupiter scooter with 57,698 units sold last month, down 3.21 percent from 59,613 units sold in May 2022. Jupiter currently commands a 22.83 percent share on this list. The Jupiter scooter was at No. 2 on the top 10 list in May 2023 with the Honda Activa taking the No. 1 spot.TVS Apache sales increased 55.14 percent in May 2023 to 41.955 units, up from 27,044 units sold in May 2022. It was followed by the XL moped with a 1.96 percent YoY growth to 35,837 units sold in the past month. Outstanding sales growth was reported for the TVS Raider, sales of which had stood at just 344 units in May 2022. Sales improved by 9911.63 percent to 34,440 units in May 2023.TVS sales breakup May 2023TVS Ntorq (27,556 units) and iQube (17,913 units) also saw sales increase by 5.96 percent and 579.29 percent respectively. There was also sales growth for TVS Sport by 25.06 percent to 14,779 units in May 2023 from 11,818 units sold in May 2022. The list also included Radeon (10,615 units) and Zest (5,632 units), both of which have seen YoY sales growth of 9.81 percent and 3.62 percent respectively. However, sales of Star City(4,381 units), Pep+ (1,617 units) and RR310 (267 units) dipped on a YoY basis.TVS Exports dip 31.15 percent in May 2023Exports fell by 31.15 percent in May 2023 with TVS Motor Company shipping 64,559 units in the past month, down from 93,765 units exported in May 2022. It was a MoM growth from 60,348 units shipped in April 2023.Star City 125 was the most exported model in the company lineup last month. Exports stood at 28,731 units, down 29.43 percent from 40,710 units sold in May 2022. The Star City 125 currently commands a 44.50 percent share. Star City exports also dipped 43.57 percent YoY to 13,262 units in May 2023 from 23,500 units shipped in May 2022.TVS exports breakup May 2023There were also 6,292 units of the Jupiter scooter exported last month.  TVS Apache exports also fell significantly on a YoY basis to 6,077 units in May 2023, down 47.70 percent when compared to 11,620 units sold in May 2022. While exports of TVS Ntorq increased by 25.86 percent to 3,816 units last month, that of Raider fell by 51.11 percent to 3,687 units from 7,542 units shipped in May 2022.There was a 100 percent growth in exports of TVS Victor with 960 units shipped last month from 480 units sold in May 2022. The export list also included the Sport (828 units), Wego (632 units) , Radeon (160 units), RR310 (60 units and XL (54 units). More

TVS Apache RR 310 Miami Blue. Image – Samuel CarvajalOnly the Colombian market is likely to get TVS Miami Blue colour along with a new White colour – No mechanical updatesTVS has a diversified portfolio not only in India. But in multiple global markets. One TVS commuter motorcycle even featured in an episode of The Grand Tour where Richard Hammond rides it in Africa. Likewise, TVS has a strong presence in Latin countries like Colombia as well.This is where TVS has showcased two new colours for its motorcycles and scooters. One of the new colours is called Miami Blue and the other is similar to Racing Edition showcased with Apache RTR 200. Images are credited to Samuel Carvajal.TVS Miami Blue Colour ConceptThe models include Apache RR 310 fully-faired bike, Raider 125 sporty commuter, Apache RTR 200 and Ntorq 125 scooter. TVS Miami Blue is a particular highlight . The White will definitely appeal to people who prefer subtle colours, unlike Miami Blue.TVS Miami Blue mainly comprises a teal blue shade and looks particularly spectacular on Apache RR 310. Given that it has more body panel real estate to show this colour off. Miami Blue is present on most of the fairing, side panels and fuel tank. While the sub frame is Black. TVS is playfully using Red accents that bring out Apache RR 310’s sporty lineage.TVS Apache RTR Miami BlueRed is present below headlights and in the tubular chassis. Wheels get half Black, half Red treatment like half-Orange and half-White on a few KTM models. Add to it Gold USD forks, Apache RR 310 looks a million bucks. TVS showcased Apache RTR body style in two colours. Both of them featured Black and Red wheels as well. Take a look at the detailed walkaround video below.[embedded content]One is Miami Blue and the other resembles Racing Edition. Both got a small windscreen, knuckle guards, front caliper cover and more. With Miami Blue on RTR body, TVS has given red elements too, present in faux tank shroud vents and on side body panels. With White colour, Red highlights are only present in faux vents in tank shrouds.Raider 125 and Ntorq 125 get new colours tooIn Colombia, TVS is offering the same Miami Blue and White with Raider 125 too. But Raider 125 lacks any Red highlights. Instead, Raider 125 showcased in White gets White grab handles for pillion, which is not the case with Miami Blue. Other than that, Raider 125 looks fresh in these new shades.TVS Raider 125 Miami BlueLastly, NTORQ 125 gets the same colour too, but retains Red accents. These Red accents are present in the front apron, rear body panels below grab rail and other places. Both Miami Blue and White look good on TVS Ntorq 125. TVS also showcased a video game simulation with Apache RRR 310 as the base vehicle too. Mechanically, these are similar to outgoing models and TVS is keeping its product fresh for the Colombian market with local feedback. We hope TVS brings this Miami Blue shade to India at least with Apache RR 310. More

New TVS RaiderTVS Motor two wheeler sales has posted exceptional YoY growth – TVS has over 30k pending orders of the iQubeTVS Motor Company has released sales figures for May 2023. It may be seen from the attached table that YoY sales growth was seen across motorcycle and scooter sales as well as where the company’s moped and e-scooter were concerned. Exports on the other hand have been lackluster, finishing in the red, both in terms of two and three wheelers.TVS Motor Company has registered 9.12 percent sales growth in May 2023. Sales (2+3 W) stood at 330,609 units in the past month, up from 302,982 units sold in May 2022. This was a volume growth of 27,627 units. On a MoM basis as well, the company has reported a 7.96 percent growth from 3,06,224 units sold in April 2023.TVS Motor Sales May 2023Talking exclusively about the company’s two wheeler sales, growth was reported across motorcycles, scooters, moped and sole electric scooter – iQube. Motorcycle sales improved by 9.21 percent to 1,62,248 units in May 2023. Up from 1,48,560 units sold in May 2022. It was also a 6.49 percent MoM growth from 1,52,365 units sold in April 2023. Motorcycle share currently stands at 50.81 percent. TVS motorcycle range includes Apache, Raider, Sport, etc.Scooter sales also saw a YoY growth of 2.52 percent to 1,03,203 units in May 2023, up 2,538 units as compared to 1,00,665 units sold in May 2022. MoM sales of scooters dipped 3.99 percent from 1,07,496 units sold in April 2023. TVS scooters include Jupiter, Ntorq, iQube, Scooty Pep+, etc.TVS Motor sales May 2023 vs May 2022 – YoY comparisonTVS Motor has been seeing good demand for the iQube e-scooter, sales of which surged to 17,953 units in May 2023, up 580.81 percent as against 2,637 units sold in May 2022. On a MoM basis as well, sales improved by 188.31 percent from 6,227 units sold in April 2023. From 1st June 2023, the company has increased prices of the TVS iQube in the range of Rs 17,000 to Rs 22,000 depending on variant.There is also the TVS XL 100 moped, sales of which increased by 42.32 percent YoY and 54.17 percent MoM to 52,844 units. This took total two wheeler domestic sales up 31.97 percent to 2,52,690 units in the past month up from 1,91,482 units sold in May 2022. MoM sales improved by 8.47 percent from 2,32,956 units sold in April 2023.Exports of two wheelers were lower on a YoY basis by 30.31 percent to 66,605 units from 95,576 units shipped in May 2022. MoM exports however improved by 7.72 percent over 61,830 units shipped in April 2023. Two wheeler total sales increased by 11.23 percent YoY and 8.31 percent MoM to 3,19,295 units in May 2023.TVS Motor sales May 2023 vs Apr 2023 – MoM comparisonTVS Motor 3W Sales and ExportsIn the three wheeler segment the company posted positive YoY sales in domestic markets but finished in the red in terms of exports. 3W domestic sales stood at 1,312 units in the past month, up 4.54 percent from 1,225 units sold in May 2022. MoM sales however, dipped 18.26 percent from 1,605 units sold in April 2023.Exports on the other hand fell on a YoY basis by 31.82 percent to 10,002 units from 15,669 units sold in May 2022. MoM exports saw a marginal increase of 1.72 percent from 9,833 units shipped in April 2023. Total 3W sales fell 28.95 percent YoY and 18.26 percent MoM to 11,314 units. More

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