TVS Motors sales rose to 360,288 units in October 2022 from 355,033 units in October 2021, representing a growth of 2 percent.
TVS Motors, headquartered in Chennai, is India’s third largest motorcycle company pioneering sustainable mobility with four state-of-the-art manufacturing facilities in Hosur, Mysore, and Nalagarh in India and Karawang in Indonesia. are
All two-wheeler sales in October 2022 were 344,630 units as against 341,513 units in October 2021. Domestic two-wheeler sales grew by 7 percent between October 2021, at 258,777 units, and at 275,934 units in October 2022.
Motorcycle sales declined from 172,361 units in October 2021 to 164,568 units in October 2022. Scooter sales rose 20 percent to 113,124 units in October 2021. In October 2022, it reached 135,190 units.
The Jupiter scooter manufactured by TVS Motor is its best selling product. Jupiter sold 82,394 units in September 2022, up 46.25 percent from 56,339 units sold in the same month last year. Volume growth was 26,055 units, accounting for 29.02 percent of TVS’s domestic sales. The XL moped came second with 47,613 sales units.
Last year’s 61,664-unit sales resulted in a 22.79% YoY decline for the XL. Volume declined by 14,051 units or 16.77 percent of the total. With a volume increase of 2,293 units, the Apache series has seen a year-on-year growth of 5.64 percent by selling 42,954 units as against 40,661 units a year ago. The NTORQ, the second best-selling scooter for TVS, saw a year-on-year growth of 6.94% by moving 31,497 units. NTORQ gained 2,045 units in volume.
Consumers continued to respond positively to the electric vehicle TVS iQube Electric which showed a significant increase in sales of 8,103 units in October 2022 compared to sales of 395 units in October 2021.
As against sales of 95,191 units in October 2021, the company’s total exports in October 2022 recorded sales of 82,816 units. As against 82,736 units sold in October 2021, 68,696 units of two-wheelers were exported in October 2022.
Some overseas markets remained subdued due to macroeconomic conditions. Due to the fact that these markets are dominated by two-wheelers, TVS Motors has reduced its shipments in these countries. The company witnessed modest retail growth in these regions in October, however, and this should support better shipments in the coming months.
The company’s three-wheeler sales grew by 16 percent, reaching 15,658 units in October 2022 as against 13,520 units in October 2021.