TVS Motor Company has emerged as the first manufacturer in our market to sell more than 2 lakh EVs with the iQube scooter. According to TVS, the nation's growing shift toward electric transportation is demonstrated by the fact that its initial 1 lakh EV units were sold over a three-year period, but the subsequent 2 lakh units were delivered in just ten months. It is worth noting that in the first six months of FY2024, 96,151 electric scooters were sold, which is 99% of total FY2023 sales of 96,654 units.
With 14,462 units sold in June 2023, TVS witnessed a slight drop in sales. In July, after the FAME II subsidy was reduced from 40% to 15%, it sold 13,306 units. However, an expanding market for electric vehicles and consumers' willingness to take advantage of the low cost of owning an electric scooter enhanced the sales of the TVS vehicle in August 2023 with 23,887 units and in September 2023 with 20,356 units, the first-time sales exceeded the 20,000 units. The TVS iQube e-scooter is currently strengthening its presence in our market with more than 2 lakh units of sales. Let's know more about the specs of this popular TVS electric scooter.
Also Read: TVS iQube Electric Surpasses 1.50 Lakh Units Sales Milestone in India in 43 Months Since Launch
TVS iQube: Key Highlights
The TVS e-scooter is available in two models: Standard and S, with prices ranging between Rs 1.34 lakh and Rs 1.40 lakh (ex-showroom, Delhi). Since its introduction, TVS has expanded the retail network for the iQube, and it is now obtainable in over 140 cities and 310 touchpoints across India. In order to further increase its reach, TVS reportedly plans to extend its iQube showroom network to over 600 touchpoints by the end of this year.
TVS Sales September 2023
The company reported total two-wheeler sales of 3,86,955 units in September 2023, up from 3,61,729 units in the same month last year, representing a 7% rise. In the domestic market, the automaker recorded a 6% increase in two-wheeler sales, with 3,00,493 units sold, up from 2,83,878 vehicles in September 2022. TVS increased sales by 10% in the motorcycle market, from 1,69,322 units in September 2022 to 1,86,438 units in September of this year. Additionally, the scooter segment experienced a growth of 8%, with sales rising from 1,44,356 units in the same month last year to 1,55,526 units in September 2023.
Also Read: TVS iQube Becomes Expensive in India After Fame II Subsidy Revision; Check Updated Prices
In the previous month, the manufacturer sold 20,356 TVS iQube e-scooters, compared to 4,923 units in September 2022. Overall, the manufacturer recorded a 6% increase in September 2023, with sales of 4,02,553 units compared to 3,79,011 units in the same month the year before.
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