TVS Motor Company Domestic Two-Wheeler YoY Sales Increase by 33% in December, Exports up 8%
In December 2023, TVS Motor Company sold nearly 2.15 lakh units in the domestic market, with the rest exported to other regions of the world.
By Kanika Sachdeva
TVS Motor Company has reported a 27 per cent rise in their total sales in December 2023. The Chennai-based manufacturer sold 2,90,064 vehicles last month when compared to 227,666 units dispatched during the corresponding month of 2022. Out of the total examples, nearly 2.15 lakh units (214,988, to be precise) were sold in the domestic market, with the rest exported to other regions of the world. That being so, the company's domestic two-wheelers constituted a 33 per cent increase over 1,61,369 units sold in December 2022.
Cumulatively (two-wheelers + three-wheelers), TVS dispatched a total of 3,01,898 units in December 2023, reporting a 25 per cent rise over 2,42,012 dispatched during the month of December 2022. Of the total two-wheelers,1,48,049 motorcycles went on sale during December 2023 as against 1,24,705 samples in December 2022, registering a sales growth of 19 per cent.
Scooters, on the other hand, represented a growth of 34 per cent, with sales increasing from 76,766 units in December 2022 to 1,03,167 units in December 2023. As for its three-wheelers, the company registered sales of 11,834 units in December 2023 as against 14,346 units in December 2022. Meanwhile, in the EV segment, TVS Motor Company reported selling 11,232 units in December 2023, in comparison to 11,071 units sold in December 2022.
TVS' Export Figures for December 2023
In terms of exports, the sales surged from 79,402 units in December 2022 to 85,391 units in the same month last year, denoting an 8 per cent increase in exports. Two-wheeler exports registered a growth of 13 per cent, with sales going from 66,297 units in December 2022 to 75,076 units in December 2023.
TVS' Sales Performance in Q3 FY2024
For the third quarter of the current financial year 2023-24, the company's two-wheelers clocked a growth of 27 per cent, which translates to 10.60 lakh units compared to 8.40 lakh units in the third quarter of FY2023. Of these total two-wheelers, 48,000 electric vehicles were sold as against 29,000 examples in Q3 FY2023. Meanwhile, three-wheelers registered a decline, with sales decreasing from 43,000 units in Q3 FY2023 to 38,000 units in Q3 FY2024.
In November 2023, TVS announced its entry into the European market through a strategic partnership with Emil Frey. This collaboration involves an import-and-distribution agreement, enabling the Switzerland-based company to distribute eight models, including the TVS Jupiter 125, Ntorq, Raider 125, iQube S, TVS X, Ronin, and the flagship Apache RR 310, starting with France in January next year.
The bikemaker hopes that the partnership will increase its exports, which as of the first half of the current financial year contribute nearly 25 per cent to the company's overall business.
