According to the reported sales for June 2023, TVS Motor Company experienced growth in domestic sales of both two-wheelers (2W) and three-wheelers (3W), while exports decreased. The overall sales, including 2W and 3W, domestic and exports, increased by 2.56 per cent year-on-year (YoY), with a total of 316,411 units sold compared to 308,501 units in June 2022. However, on a month-on-month (MoM) basis, sales dipped by 4.29 per cent from 330,609 units sold in May 2023.
Domestic Market Sales Figure
In the domestic market, 2W sales showed growth in motorcycles, scooters, and electric scooters, while moped sales declined. The company sold 148,208 units of motorcycles in June 2023, representing a 1.46 per cent YoY growth from 146,075 units sold in June 2022. However, on an MoM basis, motorcycle sales fell by 8.65 per cent from 162,248 units sold in May 2023.
Scooter sales experienced growth both YoY and MoM, with a 10.45 per cent and 17.60 per cent increase, respectively, reaching 121,364 units in June 2023. Electric scooter sales showed a significant YoY improvement of 209.88 per cent with 14,462 units sold, although there was an MoM decline of 19.45 per cent. On the other hand, sales of the XL100 moped, the only model in that segment, witnessed a YoY and MoM de-growth of 7.77 per cent and 35.31 per cent, respectively, with 34,839 units sold in June 2023.
Total 2W domestic sales increased by 22.14 per cent YoY to 235,833 units in June 2023 compared to 193,090 units in June 2022. However, on an MoM basis, 2W domestic sales fell by 6.67 per cent from 252,690 units in May 2023. 2W exports, on the other hand, declined by 31.86 per cent YoY but improved by 2.95 per cent MoM to 68,568 units in June 2023.
Three-Wheeler Sales
Regarding 3W sales, TVS Motor Company sold a total of 12,010 units in June 2023, which represented an 18.77 per cent YoY de-growth from 14,786 units sold in June 2022. On an MoM basis, 3W sales improved by 6.15 per cent compared to 11,314 units in May 2023. Domestic 3W sales grew by 49.06 per cent YoY and 9.30 per cent MoM, reaching 1,434 units and commanding an 11.94 per cent share. However, exports of 3W fell by 23.50 per cent YoY but improved by 5.74 per cent MoM, with 10,576 units shipped in June 2023, holding an 88.06 per cent share.
Closing Note
In summary, TVS Motor Company witnessed overall growth in domestic sales of 2W and 3W, although exports experienced a decline. The company saw an increase of 2.56 per cent YoY in total sales but a decrease of 4.29 per cent MoM.
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