TVS Motor Company sales grow by 22% in June

TVS Motor: The scrip added 4 percent as the company has kick-started a process to raise around $300 million to $350 million for its electric mobility business, multiple industry sources with knowledge of the development told Moneycontrol. Moneycontrol was the first to report the firm’s capital mop-up plans for its carved-out electric mobility business on November 9, 2021. If plans fructify, TVS Motor Company would become the third listed company to raise funds for an electric vehicle subsidiary, post Tata Motors and Greaves Cotton. “The fund raise process was launched last week and feelers have been sent to top private equity funds as well as sovereign wealth funds and pension funds. The funds with a sustainability pool may be particularly interested,” said one of the persons cited above. JP Morgan which expects a recovery in domestic 2W volumes and expects TVS to outperform growth shared the following details in an update dated May 6, 2022 – “TVS will be launching 2W and 3W EVs with battery pack sizes of 5-25kWh over the next eight quarters. Current production levels for the iQube are 1.7K/month and there is an order book of 12K units. TVS is currently selling its EVs across 33 cities and plans to raise monthly production to 10K/unit by end of 1QFY23.”

TVS Motor Company registered a growth of 22 percent in June with sales of 308,501 units as against 251,886 units in the month of June 2021.

Total two-wheelers registered a growth of 23 percent with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022.

Domestic two-wheeler registered growth of 33 percent with sales increasing from 145,413 units in June 2021 to 193,090 units in June.

Motorcycle registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021. Scooter sales of the Company grew from 53,956 units in June 2021 to 105,211 units in June.

The shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. We are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels as semiconductor supplies continue to improve.

The Company’s total exports grew by 8 percent from 106,246 units in June 2021 to 114,449 units in June 2022.

Two-wheeler exports grew by 9 percent from 92,679 units in June 2021 to 100,625 units in June 2022.

Three-wheeler sales of the Company grew by 7 percent from 13,794 units in June 2021 to 14,786 units in June 2022.

This is the highest ever sales of TVS iQube Electric and the sales grew by 77 percent over May.

The domestic two-wheeler sales include TVS iQube Electric sales of 4,667 units in June.

During the first quarter of the current financial year, two-wheeler sales grew by 39 percent increasing from 6.2 lakh units in the first quarter FY 21-22 to 8.6 lakh units in the current quarter.

Three-wheeler of the Company registered a growth of 18 percent increasing from 0.39 lakh units in the first quarter of FY 21-22.to 0.46 lakh units in the first quarter of the current year.

During the first quarter of the current financial year, two-wheeler sales grew by 39 percent increasing from 6.2 lakh units in the first quarter FY 21-22 to 8.6 lakh units in the current quarter.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.

Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes.

We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys.

We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.

Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.