Sales Report February 2023: TVS Motor Reports 27.83% Growth in 2W Domestic Sales

TVS Motor has released its sales report for the month of February 2023, showing us growth in its domestic 2-wheeler sales by 27.83%. A total of 2,21,402 units were sold in Feb 2023 as opposed to 1,73,198 units in Feb 2022.

Bike sales saw a massive dip of 12.04% YoY, with 1,26,243 units sold in Feb 2023 as opposed to 1,43,523 units sold in Feb 2022.

The scooter segment, however, saw positive growth of 21.02% YoY, accounting for 1,04,825 units sold in Feb 2023 as opposed to 86,616 units sold in Feb 2022.

What really took the sales number through the roof was its newly launched e-scooter segment, which showed a massive growth of 593.57% YoY. TVS sold 15,522 units sold in Feb 2023 as opposed to 2,238 units sold in Feb 2022. February marked the 4th month when TVS sales surpassed 10k units!

TVS moped segment didn’t have such impressive growth and saw a decline of 4.08% YoY, with 35,958 units sold in Feb 2023 as opposed to 37,486 units sold in Feb last year.

The total sales of TVS 2-wheeler remained flat with a slight decline of 0.22% YoY, with 2,67,026 units sold in Feb 2023, as opposed to 2,67,625 units sold in Feb 2022. Furthermore, TVS saw a decrease in the number of their 2W exports, too, with a decline of 51.68% YoY. As a result, the sales figure for 45,624 units was witnessed in Feb 2023 as compared to 94,427 units in Feb 2022.
 

Overall, the domestic sales of TVS recorded an impressive growth YoY in Feb 2023. Scooter and Electric Scooter segments have also shown positive growth. However, mopeds and motorcycles saw a dip in sales for Feb 2023. In addition, exports saw a big drop of 51.68% this year. All this added up to the total sales falling to 2,76,150 units in Feb 2023 from 2,81,714 units sold in Feb 2022. As a result, the total volume loss was at 5,564 units, with almost a 2% decline.

TVS Motor Company holds a strong presence in the Indian 2-wheeler market. However, the brand has been shifting its focus on expanding its portfolio of products, especially on its scooter and e-scooter segments. This fall in export numbers could be attributed to the current global economic market and supply chain disruptions.

Bajaj Auto also released its sales report for February 2023. Check out what their numbers look like!

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