TVS Motor Company Reports 6% Sales Growth in September 2023

Hosur, Tamil Nadu, India

TVS Motor Company has announced a 6% increase in sales for September 2023, with a total of 402,553 units sold compared to 379,011 units in the same month of the previous year.

Two-Wheeler Sales:

• The total number of two-wheelers sold witnessed a 7% growth, rising from 361,729 units in September 2022 to 386,955 units in September 2023.
• Domestic two-wheeler sales increased by 6%, going up from 283,878 units in September 2022 to 300,493 units in September 2023.
• Motorcycle sales showed a robust growth of 10%, increasing from 169,322 units in September 2022 to 186,438 units in September 2023.
• Scooter sales also experienced growth, with an 8% increase, rising from 144,356 units in September 2022 to 155,526 units in September 2023.

Electric Vehicle Sales:

• TVS Motor Company reported a significant surge in electric vehicle sales, with 20,356 units of TVS iQube Electric sold in September 2023, compared to 4,923 units in the same month of the previous year.

International Business:

• The company's total exports grew by 8%, with sales increasing from 92,975 units in September 2022 to 100,294 units in September 2023.
• Two-wheeler exports saw an impressive 11% growth, rising from 77,851 units in September 2022 to 86,462 units in September 2023. The international markets are showing promising signs of recovery in both retail and dispatch activities.

Three-Wheeler Sales:

• The company's three-wheeler sales for September 2023 amounted to 15,598 units, down from 17,282 units in the same month of the previous year.

Second Quarter Sales Performance:

• In the second quarter of the current financial year, two-wheeler sales recorded a 6% growth, totaling 10.31 lakh units, compared to 9.77 lakh units in the second quarter of FY 22-23.
• Three-wheeler sales for the company in the second quarter of the current year amounted to 0.43 lakh units, down from 0.51 lakh units in the second quarter of FY 22-23.