June 2023 Sales Report of TVS Motors Reveals 3% YoY Growth

TVS Motor Company witnessed a significant surge in demand for the iQube electric scooter in June 2023, with a remarkable year-over-year (YoY) growth of 210%.

In terms of overall sales, TVS reported a 2.56% YoY increase. The total sales, combining both two-wheelers and three-wheelers (domestic and exports), reached 316,411 units in June 2023, compared to 308,501 units in the same month of the previous year. However, month-over-month (MoM) sales experienced a slight decline of 4.29%, with 330,609 units sold in May 2023.

In the domestic market, TVS observed growth in two-wheeler sales across motorcycles, scooters, and electric scooters, while moped sales declined. The number of motorcycles sold in June 2023 was 148,208 units, showing a YoY growth of 1.46% from 146,075 units in June 2022. This represented a volume growth of 2,133 units, with motorcycles holding a 48.69% share in the company’s product lineup. However, MoM sales for motorcycles fell by 8.65%, with 162,248 units sold in May 2023.
 

TVS 2W Sales & Exports June 2023

In June 2023, scooter sales witnessed growth both in terms of year-over-year (YoY) and month-over-month (MoM) comparisons, with a 10.45% and 17.60% increase, respectively, reaching a total of 121,364 units. Scooters commanded a significant market share of 39.87%. Comparatively, there were 109,878 units sold in June 2022 and 103,203 units sold in May 2023.

TVS Motor Company’s iQube electric scooter performed exceptionally well in the market. It recorded a remarkable YoY growth of 209.88%, with 14,462 units sold in June 2023, compared to 4,667 units sold in June 2022. However, there was an MoM decline of 19.45% from 17,953 units sold in May 2023.

The XL100 moped, which stands as the sole model in the company’s lineup, experienced a year-over-year (YoY) and month-over-month (MoM) decline of 7.77% and 35.31%, respectively, with 34,839 units sold in June 2023. In comparison, there were 37,762 units and 53,844 units sold in June 2022 and May 2023. As a result, total domestic sales of two-wheelers saw a growth of 22.14%, reaching 235,833 units in June 2023, up from 193,090 units sold in June 2022. However, MoM sales decreased by 6.67%, with 252,690 units sold in May 2023.

On the export front, two-wheeler shipments experienced a YoY decline of 31.86% but an MoM improvement of 2.95%, totalling 68,568 units in June 2023. This contrasts with the 100,625 units shipped in June 2022 and 66,605 units in May 2023. Consequently, the combined total of two-wheelers and three-wheelers (domestic and exports) grew by 3.64% YoY yet experienced an MoM decline of 4.66%, totalling 304,401 units in June 2023.

TVS Motor 3W Sales & Exports June 2023

When it comes to three-wheeler sales and exports, the company recorded a total of 12,010 units sold in June 2023. This reflected a year-over-year (YoY) decline of 18.77% from the 14,786 units sold in June 2022. However, month-over-month (MoM) sales showed improvement, increasing by 6.15% from 11,314 units sold in May 2023.

Domestic three-wheeler sales experienced significant growth, with a YoY increase of 49.06% and an MoM increase of 9.30%. A total of 1,434 units were sold, accounting for an 11.94% share on the company’s sales list. Conversely, exports faced a YoY decline of 23.50% but exhibited an MoM improvement of 5.74%, with 10,576 units sold, holding an 88.06% share.

In terms of the combined sales of two-wheelers and three-wheelers in the domestic market, there was a YoY improvement of 22.27%, reaching 237,267 units in June 2023, compared to 194,052 units sold in June 2022. However, MoM sales experienced a decline of 6.59%, with 254,002 units sold in May 2023. On the export front, there was a YoY de-growth of 30.85%, with 79,144 units shipped in June 2023, as opposed to 114,449 units in June 2022. MoM exports, however, showed improvement, with a 3.31% increase from 76,607 units shipped in May 2023.

But before you go, don’t forget to check out our latest story on the Recent Sales Report of Hero MotoCorp, That Reported a Major Decline YoY & MoM.

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