TVS Motor Company sales fell by 3.28% in December 2022

TVS Motor Company claims that the production and sales of premium two-wheelers have been severely affected by the shortage of semiconductors.

Two-wheeler and three-wheeler manufacturer TVS Motor Company recorded sales of 242,012 units in December 2022, according to data released on Monday. Sales were down to 3.6% as the company registered sales of 250,993 units last year.

Domestic two-wheeler sales recorded a 10 percent increase, rising from 146,763 units in December 2021 to 161,369 units in December 2022. Total registered sales of two-wheelers decreased by 3.4 per cent, which is equal to the decline of 227,666 units in December 2022 from sales of 235,392 units in December 2021.

Motorcycle sales were down to 6.7%, which means a decline of 124,705 units in December 2022 from 133,700 units in December 2021. Scooter sales grew by 14%, which means the sales increased from 67,533 units sold in December 2021 to 76,766 units in December 2022.

In December 2022, TVS iQube Electric registered 11,071 units, up from 1,212 units in December 2021.

"TVS iQube Electric continues to gain momentum and registered 11,071 units in December 2022, as evidenced by a strong order book and growing acceptance of electric mobility," TVS Motors said in a statement.

The company's total export sales decreased by 23.2%, which means 79,402 units sold in December 2022 as compared to 103,420 units sold in December 2021. On the other hand, the exports of two-wheelers registered sales of 66,297 units exported in December 2022 as compared to 88,629 units exported in December 2021.

In December 2022, TVS Motors recorded sales of 14,346 units of its three-wheeler, up from 15,541 units in December 2021.

TVS Motors for the December quarter of the current fiscal year recorded sales of two-wheelers at 8.4 lakhs compared to 8.3 lakhs in the corresponding quarter of the previous fiscal year. Three-wheeler sales were 0.43 lakh compared to 0.44 lakh last year. Total export sales were 2.5 million units in the current quarter, compared to 2.9 million units in the third quarter of Financial Year 2021-22.