TVS Motor Records 3.70% YoY Sales Surge in April 2023, Despite 3.45%, MoM Drop

TVS Motor has released its sales figures for April 2023, reporting a YoY increase of 3.70%, while the MoM sale figures dropped by 3.70%. The electric scooter, TVS iQube, has witnessed remarkable demand resulting in the sale of 1 lakh units, marking an important sales milestone.

In the previous month, the total sales figures (including domestic and export sales of both two-wheelers and three-wheelers) amounted to 3,06,224 units, indicating a YoY growth of 3.70% compared to the sale of 2,95,308 units in April 2022. This translates to an increase in sales volume by 10,916 units. However, there was an MoM decline of 3.45% in sales (both two-wheelers and three-wheelers) from 3,17,152 units sold in March 2023, reflecting a drop in sales volume by 10,928 units.

TVS Motor 2W Sales Report For April 2023

Motorcycle sales in April 2023 exhibited a YoY growth of 9.59%, with 1,52,365 units sold, up from 1,39,027 units in April 2022. Motorcycles held a majority share of 51.69%. MoM sales also showed positive growth, with a 7.87% increase from 1,41,250 units sold in March 2023, when motorcycles held a market share of 45.93%. Scooter sales in April 2023 also grew YoY, with 1,07,496 units sold, reflecting a 5.17% rise from 1,02,209 units sold in April 2022. However, MoM sales fell by 16.55%, dropping from 1,28,817 units in March 2023.

In the electric scooter category, YoY sales experienced a remarkable 338.52% increase, with 6,227 units of the iQube electric scooter sold, up from only 1,420 units in April 2022. The company plans to increase the production of its electric scooter to meet the rising demand starting in May 2023. However, MoM sales witnessed a substantial decline of 59.47%, selling 9,137 units less than the 15,364 units sold in March 2023.

TVS XL100 moped sales exhibited a YoY and MoM decline, dropping to 34,925 units in April 2023, down 9.95% from 38,786 units in April 2022. As for the MoM decline, it came down to 6.85% from 37,492 units in March 2023.

In contrast, total domestic 2W sales increased by 29.02% YoY, amounting to 2,32,956 units sold in April 2023, up from 1,80,553 units sold in April 2022. However, on an MoM basis, it recorded a 3.25% fall from 2,40,780 units sold in March 2023. 

Conversely, 2W exports decreased YoY & MoM, with shipments dropping by 37.85% YoY to 61,830 units from 99,489 units in April 2022. It further dropped by 7.41% from MoM from 66,779 units in March 2023. The total 2W sales for April 2023 amounted to 2,94,786 units, reflecting a YoY increase of 5.27% from 2,80,022 units in April 2022. However, an MoM decline of 4.15% from 3,07,559 units in March 2023 was reported.

But before you go, do check out our recent story on April 2023 Sales Report of Royal Enfield's Growth Trajectory.

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