Two-wheeler domestic sales for TVS Motor Corporation increased YoY by 27.83 percent, reaching 2,21,402 units in February 23 as opposed to 1,73,198 units in February 22. 1,26,243 motorcycles were sold in February, a 12.04 percent YoY fall from 1,43,523 in February of the previous year.
On the other hand, the scooter segment experienced favourable growth of 21.02 percent YoY. 1,04,825 units were sold on February 23 as opposed to 86,616 on February 22. The relatively new e-scooter market has had phenomenal growth, increasing by 593.57 percent year over year. 15,522 copies were sold on February 23 as opposed to 2,238 on February 22. This was the fourth month in a row that sales exceeded 10,000 units. The need for iQube is growing at a substantial rate.
Reduced Sales of 3W and Mopeds
The moped market saw a YoY drop of 4.08 percent. 33,958 units were sold on February 23 versus 37,486 units sold year over year. The company’s overall two-wheeler sales have decreased by just 0.22 percent year over year, remaining unchanged. 23 Feb saw the sale of 2,67,026 units. 2,67,625 copies were sold the previous year. The company reported a 51.68 percent YoY decrease in 2W exports.
Feb 2023 saw the sale of 45,624 units. down from 94,427 units in February 22. On the other hand, 3W domestic sales have increased by 42.57 percent year over year. 942 units were sold in February 22, however 1,343 were sold in February 23. Exports of three-wheelers, meanwhile, have decreased 40.82% year over year. From 13,147 units in February 22 to 7,781 units in February 2023.Total domestic 2W and 3W sales for TVS increased by 27.91% year over year. In comparison to the same period last year, 2,22,745 units were sold. Two- and three-wheeler exports as a whole fell by 50.36% year over year. From 1,07,574 to 53,405 units, a decrease.
Scooters and E-scooters grow
In the week of February 23rd, TVS Motor Company saw significant YoY rise in its domestic two-wheeler sales. Segments for scooters and e-scooters have seen rise, whilst those for motorcycles and mopeds have seen decline. While the company’s domestic sales have increased, its exports have drastically decreased. Final results were negative because declines in exports outweighed increases in the domestic market.
2,76,150 units were sold in total, down from 2,81,714 units. 5,564 units, or roughly 2% less, were lost in volume. The home market is well-served by TVS Motor Company. To meet customer demands, the company has been concentrating on growing its product line, with a particular focus on the scooter and e-scooter markets.
Domestic Sales Growth
Domestic (2+3W) sales increased moM by 2.13 percent from February 1 to February 23, selling 2,22,745 units. more than 2,18,091 in January 23. Exports (2+3W) for the MoM, however, fell by 6.35 percent. 53,405 units instead of 57,024 units within the same time period. The business saw a meagre MoM growth of 0.38 percent overall. Sales of domestic two-wheelers as a whole grew 2.28 percent over the previous month to 2,21,402 units from 2,16,471 units on January 23.
With an increase of 1,21,042 units, MoM growth in the motorbike segment is reported at 4.30 percent. Sales of scooters down 1.61 percent MoM. E-scooter sales, on the other hand, kept up their robust growth pace, increasing by 27.55 percent MoM from 12,169 units. Sales of mopeds are down 3.16 percent MoM, from 37,131 units. The MoM domestic sales of three-wheelers at TVS Motor decreased by 17.10%. a decrease from 1,620 units. From 8,785 units, MoM 3W shipments decreased by 11.43 percent. 12.31 percent is the stated total MoM 3W drop.