TVS Motor reports YoY growth for two wheeler domestic sales and exports; MoM total 2W sales improve
For July 2022, TVS Motor found a spring in its step where domestic sales and exports are gauged. Total motorcycle sales last month rose to 1.5L units, up from 1,38,772 units. Volume gain stood at 11.5k units at 8.34 percent. Where business is concerned, motorcycles make up much of its sales volume. Apache, Raider, Sport, Star City, Radeon were top selling motorcycles from TVS.
Scooter sales improved noticeably last month, up at 1,10,19 units from 73,811 units. Volume gain stood at 36,385 units at 49.29 percent growth. Jupiter and Ntorq continued to be best-selling scooters from TVS. TVS iQube electric scooter sales in July 2022 were at 6,304 units. This is the highest ever monthly sales reported by iQube.
While most categories are reported in the green, TVS XL 100 moped sales continue to lose their footing. Sales are down to 39,122 units from 50,145 units at volume loss of 11k units. Sales decline stands at 22 percent. In fact, TVS moped sales have been on a decline for months together. Of total two-wheeler sales, volumes in the domestic market far exceeded exports last month. 2W domestic sales crossed the 2 lakh units mark at 2,01,942 units. Sales growth stood at 15.28 units, up from 1,75,169 units at volume gain of 26,773 units.
Two wheeler exports too are up at 97,716 units from 87,559 units. Volume gain was reported at just over 10k units at 11.6 percent growth. Total 2W sales fell just shy of 3L units. At 2,99,658 units, growth is reported at 14 percent, up from 2,62,728 units. Volume gain is reported at almost 37k units.
Three-wheeler ales on the other hand are a mix of low volume and decline. Domestic 3W volume is small at 665 units. This however is an improvement YoY, up from 553 units. Growth is reported at 20 percent at volume gain of 112 units. It’s no surprise though that ICE 3W sales face tough competition from e3W manufacturers. A segment where sales is improving, and even more positive is that fact that the market is peppered by a long list of manufacturers who are new to the trade.
3W exports fell to 14,316 units, down from 15,574 units. Volume loss stood at 1,258 units at 8 percent decline. Total 3W sales is down at just below 15k units from 16,127 units. Volume loss stood at 1,146 units at 7.11 percent decline. Despite the slowfooting on the 3W front, total domestic sales and exports remained in the green.
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