TVS Motor reports 6% YoY growth in September 2023 sales

TVS Motor Company reported a 6% YoY sales increase in September 2023, driven by strong domestic and international two-wheeler sales.

TVS Motor Company reported a 6 percent year-on-year (YoY) growth in total sales at 402,553 units in September 2023, compared to 379,011 units in September 2022.

Two-wheeler segment

Total two-wheeler sales registered a 7 percent YoY surge to 386,955 units this September, up from 361,729 units sold in September 2022. Domestic two-wheeler sales were up 6 percent to 300,493 units, compared to 283,878 units sold in the same period the previous year.

In terms of specific product categories, motorcycle sales increased from 169,322 units sold in September 2022 to 186,438 units in September 2023 - marking a 10 percent growth. Scooter sales increased from 144,356 units in September 2022 to 155,526 units in September 2023, marking an 8 percent increase.

The company reported sales of 20,356 TVS iQube Electric units in September 2023, significantly up from 4,923 units in the same month in 2022.

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On the international front, TVS Motor Company's total exports registered an 8 percent growth, with sales increasing from 92,975 units in September 2022 to 100,294 units in September 2023. Two-wheeler exports recorded a growth of 11 percent, with sales rising from 77,851 units in September 2022 to 86,462 units in September 2023.

Three-wheeler sales, however, declined, with 15,598 units sold in September 2023, compared to 17,282 units in the same month last year.

During the second quarter of the current financial year, TVS Motor Company's two-wheeler sales were up 6 percent, totaling 10.31 lakh units compared to 9.77 lakh units in the second quarter of the previous financial year.

TVS Motor Company, a global two and three-wheeler manufacturer, has a strong presence in the sustainable mobility sector, with state-of-the-art manufacturing facilities in India and Indonesia. The company prides itself on its commitment to quality, innovation, and customer satisfaction and has received numerous accolades in these areas, including the prestigious Deming Prize and top rankings in customer service satisfaction surveys.

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