TVS Motor Company Records 3% YoY Sales Growth in January 2023

TVS Motor Company has recently announced that it registered a 3 per cent year-on-year growth in vehicle sales in January 2023. The sales figure stood at 2,75,115 units, up from 2,66,788 units sold during the month of January in 2022. In the two-wheeler market, the auto major recorded its January sales of 2,16,471 units in 2023 from 1,67,795 units in the year-ago period, accounting for a 29 per cent domestic sales growth. Its scooter segment witnessed a growth of 32% with sales increasing from 80,580 units in January 2022 to 1,06,537 units in January 2023. Motorcycle retail sales, however, took a hit in the previous month, registering 1,21,042 units as against 1,37,630 units in January 2022. The sales of three-wheelers dropped to 10,405 units in January 2023 vis-à-vis 12,649 units in January 2022.

The two-wheeler brand’s exports went down to 57,024 units in January 2023 from 97,858 units in January 2022. On the sales drop, TVS Motors stated, “Given the macro-economic uncertainties in a few international markets, the company has reduced stock to enable the channel partners. Customer retails continue to be well ahead of the despatches. With reduced distributor stocks and improved retails, the Company is optimistic of improving despatches in the forthcoming months”.

Also Read: TVS iQube S vs Ola S1 Pro Electric Scooter Comparison Review

Nevertheless, the sales of electric vehicles have a different story to tell. The auto major registered its sales of 12,169 units in January 2023 in contrast to the sales of 1,529 units in January 2022. Interestingly, the iQube Electric recorded more than 10,000 units for the third consecutive month, according to the manufacturer. 

The iQube Electric comes in three variants: Standard, S, and ST. It is now available in more than 100 cities across 200 touchpoints.

Also Read: TVS iQube Video

Capitalising on the opportunity thrown up by the Auto Expo 2023, TVS Motors showcased the all-new iQube ST electric scooter with better features. Expected to be launched soon in India, its top-spec ST variant is said to offer a better riding range with a minimalist design. Apart from smartphone connectivity, it gets a 7-inch touchscreen, play/pause music, social media notifications, OTA updates, anti-theft, live location tracking, navigation, and so on.