TVS Motor Company Records Domestic Two-Wheeler YoY Sales Growth of 8% in March, Exports up 26%

TVS Motor Company, the Chennai-based two- and three-wheeler manufacturer, has recorded a 12 per cent rise in their total sales in March 2024. It sold 3,44,446 two-wheelers last month, compared to 3,07,559 units in March 2023. Of these total two-wheelers sold, 2,60,532 units went to home buyers, while the remaining 83,914 units were exported to other regions of the world. That being so, the company's domestic two-wheelers made up an 8 per cent increase over 2,40,780 units sold in March 2023.  

TVS' cumulative sales (two-wheelers + three-wheelers) stood at 3,54,592 units in March 2024, reporting a 12 per cent rise over 3,17,152 units despatched during the corresponding month of 2023. More than 1,70,000 (171,611, to be precise) motorcycles went on sale during March 2024 against 1,41,250 samples in March 2023, registering a growth of 22 per cent. On the other hand, scooters represented a mere 2 per cent growth, with sales increasing from 1,28,817 units in March 2023 to 1,31,472 units in March 2024.

TVS' 3W, EV Sales Figures for Mar. 2024

As for its three-wheelers, TVS registered sales of 10,146 units in March 2024 compared to 9,593 units in March 2023 (Growth: 6 per cent). In the electric vehicle segment, the company reported selling 15,250 units last month, compared to 15,364 units sold in March 2023. 

TVS' Export Figures for Mar. 2024

In terms of exports, the sales surged from 75,037 units in March 2023 to 91,972 units during the same month last year, denoting a 23 per cent increase. Two-wheeler exports registered a 26 per cent growth, with sales going from 66,779 units in March 2023 to 83,914 units in March 2024.

TVS' Q4 Sales Figures 

Quarter-wise, TVS' two-wheeler sales in Q4 FY2023-24 stood at 10.32 lakh units against 8.40 lakh units during Q4 FY2022-23, whereas three-wheelers registered a growth of 4 per cent, with sales increasing from 0.29 lakh units in Q4 FY2022-23 to 0.30 lakh units in Q4 FY2023-24. Lastly, total exports were 2.50 lakh units during the last quarter of the previous financial year, up from 1.85 lakh units in FY2022-23. 

TVS' FY2024 Sales Figures 

During the last financial year, TVS Motor Company posted a 14 per cent increase, with total sales increasing from 36.82 lakh units in FY2022-23 to 41.91 lakh units.