TVS November 2023 Sales Report Released | Revealed 31.43% YoY Growth
Published at December 6, 2023| By BikeJunction Team 
TVS Motor Company has revealed its sales figures for November 2023, revealing a very impressive growth. The company sold 2,77,123 units total this last month, representing a significant 31.43% YoY growth, when compared to November 2022 sales figures of 2,77,123 units. However, there was a month-on-month (MoM) decline from the highest-ever monthly sales of 4,34,714 units in October 2023.
TVS 2 Wheeler Sales November 2023
The company sold 352,103 two-wheelers in November 2023, showing a 33.55% increase from the 263,642 units sold in November 2022. This growth represents an additional 88,461 units sold. On a month-to-month basis, however, there was a 16.29% decrease in sales, dropping from 420,610 units in October 2023.
| TVS Motor Sales | Nov 23 | Nov 22 | Difference | Growth % YoY | % Share Nov 23 |
| Motorcycle | 1,72,836 | 1,45,006 | 27,830 | 19.19 | 49.09 |
| Scooter | 1,35,749 | 83.679 | 52,070 | 62.23 | 38.55 |
| E-Scooter | 16,782 | 10,056 | 6,726 | 66.89 | 4.77 |
| Moped | 43,518 | 34,957 | 8,561 | 24.49 | 12.36 |
| 2W Domestic | 2,87,017 | 1,91,730 | 95,287 | 49.70 | 81.52 |
| 2W Exports | 65,086 | 71,912 | -6,826 | -9.49 | 18.48 |
| 2W Total | 3,52,103 | 2,63,642 | 88,461 | 33.55 | 100.00 |
| 3W Domestic | 2,011 | 1,259 | 752 | 59.73 | 16.58 |
| 3W Exports | 10,117 | 12,222 | -2,105 | -17.22 | 83.42 |
| 3W TOTAL | 12,128 | 13,481 | -1,353 | -10.04 | 100.00 |
| Domestic (2 + 3W) | 2,89,028 | 1,92,989 | 96,039 | 49.76 | 79.35 |
| Exports (2 + 3W) | 75,203 | 84,134 | -8,931 | -10.62 | 20.65 |
| Total (2+3W) | 3,64,231 | 2,77,123 | 87,108 | 31.43 | 100.00 |
Last month, motorcycles led the two-wheeler segment with a strong demand, selling 172,836 units. This marked a 19.19% increase from the 145,006 units sold in November 2022. However, there was a 14.42% month-to-month decline from the 201,965 units sold in October 2023. Motorcycles now make up 49.09% of the company's overall portfolio.
Meanwhile, scooters experienced an even more impressive year-over-year growth, surging by 62.23% to 135,749 units in November 2023, up from 83,679 units in November 2022. However, there was a 17.80% decrease in month-to-month sales, dropping from 165,135 units in October 2023. Scooters currently hold a 38.55% share in the company's product lineup.
| TVS Motor Sales | Nov 23 | Nov 22 | Difference | Growth % YoY | % Share Nov 23 |
| Motorcycle | 1,72,836 | 2,01,965 | -29,129 | -14.42 | 48.02 |
| Scooter | 1,35,749 | 1,65,135 | -29,386 | -17.80 | 39.26 |
| E-Scooter | 16,782 | 20,153 | -3,371 | -16.73 | 4.79 |
| Moped | 43,518 | 53,510 | -9,992 | -18.67 | 12.72 |
| 2W Domestic | 2,87,017 | 3,44,957 | -57,940 | -16.80 | 82.01 |
| 2W Exports | 65,086 | 75,653 | -10,567 | -13.97 | 17.99 |
| 2W Total | 3,52,103 | 4,20,610 | -68,507 | -16.29 | 100.00 |
| 3W Domestic | 2,011 | 1,805 | 206 | 11.41 | 12.80 |
| 3W Exports | 10,117 | 12,299 | -2,182 | -17.74 | 87.20 |
| 3W TOTAL | 12,128 | 14,104 | -1,976 | -14.01 | 100.00 |
| Domestic (2 + 3W) | 2,89,028 | 3,46,762 | -57,734 | -16.65 | 79.77 |
| Exports (2 + 3W) | 75,203 | 87,952 | -12,749 | -14.50 | 20.23 |
| Total (2+3W) | 3,64,231 | 4,34,714 | -70,483 | -16.21 | 100.00 |
Looking at the TVS iQube the sole electric scooter in the company's lineup, sales showed a robust year-over-year increase of 66.89%, reaching 16,782 units last month. This is a significant jump from the 10,056 units sold in November 2022. However, on a month-to-month basis, there was a 16.73% decline from the 20,153 units sold in October 2023.
In the moped segment, there was a positive year-over-year growth of 24.49%. Despite this, month-to-month sales experienced a decline of 18.67%.
3-Wheeler Domestic Sales & Exports
In the three-wheeler segment, TVS Motor witnessed a decline in both year-over-year (YoY) and month-over-month (MoM) total sales, despite a more positive performance in the domestic markets.
Total three-wheeler sales (combining domestic and exports) stood at 12,128 units in November 2023, marking a 10.04% decrease from the 13,481 units sold in November 2022. Additionally, there was a 14.01% decrease on a MoM basis compared to the 14,104 units sold in October 2023.
However, the company showed better results in the domestic market with a significant YoY growth of 59.73%, reaching 2,011 units from 1,259 units sold in November 2022. MoM domestic sales also increased by 11.41%, rising from 1,805 units in October 2023.
On the other hand, exports experienced a 17.22% YoY decline and a 17.74% MoM decline, totaling 10,117 units. In comparison, November 2022 and October 2023 had seen 12,222 units and 12,299 units shipped, respectively.
When considering the total sales of two-wheelers and three-wheelers (domestic and exports), November 2023 saw an impressive 31.43% increase to 364,231 units, up from 277,123 units in November 2022. This represents a substantial volume growth of 81,108 units. YoY domestic sales for both two-wheelers and three-wheelers combined increased by 49.76% to 289,028 units from 192,989 units in November 2022.
However, total exports dipped by 10.62% to 75,203 units from 84,134 units shipped in November 2022. On a MoM basis, both domestic and export figures declined by 16.65% and 14.50%, respectively.
But, before you go, don’t forget to check out how TVS’s top competitor Hero MotoCorp performed in November 2023.
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