Vidhi Thapa, Author at Shifting-Gears

With total retail sales of 321,687 units in December 2024, TVS reported a 7% increase in cumulative sales over December 2023, when it sold 301,898 units. In comparison to the same month last year, the company sold 312,002 two-wheelers, an increase of 8%. TVS Sales Performance in 2024: TVS had a slight drop in motorcycle sales among two-wheelers, selling 144,811 units in December 2024 compared to 148,049 units in the same month the previous year. Nonetheless, scooter sales increased by 30% last month, reaching 133,919 units from 103,167 in December 2023. The 2024 debut of the revised Jupiter 110, which boasts a new set of features, improved functionality, and a sharper appearance, is probably to blame for this upward spike. Due to the high demand for the iQube, TVS's sales of electric vehicles (EVs) increased by an astounding 79%. The company sold 20,171 iQube units in December 2024, which is a substantial increase over the 11,288 units sold in the same month in 2023. This dramatic increase in EV sales demonstrates both TVS' growing market share in the EV industry and the growing public interest in electric transportation. TVS Domestic Market Sales Performance: TVS' total two-wheeler sales in the domestic market, however, stayed largely unchanged despite the electric portfolio's outstanding success. In December 2024, the business sold 2,15,075 two-wheelers, a 0.4% increase over the 2,14,988 units sold in December 2023. Even though this is a slight increase from year to year, it highlights a flat growth pattern for the brand's two-wheeler sales in the domestic market, with the EV sector playing a major role in the overall performance. To capitalise on the growing demand for electric vehicles while preserving its position in the traditional two-wheeler industry, TVS has strategically shifted its products, as evidenced by the relatively consistent rise in the two-wheeler category and the spike in EV sales. TVS International Market Sales Performance: On the other hand, TVS's export business improved significantly, with total exports rising to 1,04,393 units, which is an impressive 22 per cent hike. Two-wheeler exports specifically grew by 29 per cent to 96,927 units. This spur in export business can be attributed to the several efforts of the marque to enhance its global presence, like setting up a new manufacturing plant in Indonesia that will overlook the production of the Jupiter 110. TVS's export business grew significantly; in December 2024, total shipments reached 104,393 units, a robust 22% gain. In particular, exports of two-wheelers increased by 29% to 96,927 units. The brand's ongoing attempts to expand its global presence are responsible for this improvement in export success. The construction of a new manufacturing facility in Indonesia that will concentrate on producing the Jupiter 110 is one important move fostering this growth and enhancing TVS' global reach and production capacity. Also read: Bajaj discontinues Pulsar F250 from Indian market, low demand