TVS Motor Company has released its sales report for May 2023. The company posted a sales growth of 9 per cent. The sales figure increased from 3,02,982 units in May 2022 to 3,30,609 units in May 2023.
Detailed Sales Report From TVS
Two-Wheeler
The two-wheelers sales registered a growth of 11 per cent. As the sales figure increased from 2,87,058 units in May 2022 to 3,19,295 units in May 2023. Talking of the domestic two-wheeler market, the two-wheeler maker posted a growth of 32 per cent with sales increasing from 1,91,482 units in May 2022 to 2,52,690 units in May 2023.
Meanwhile, motorcycles registered sales growth of 9 per cent. The sales increased from 148,560 units in May 2022 to 162,248 units in May 2023. Scooter sales registered a growth of 3 per cent. The figure rose from 100,665 units in the month of May 2022 to 103,203 units in May 2023.
Electric Vehicle
TVS iQube is the only electric offering in the segment. The EV recorded sales of 17,953 units in May 2023. This is as against sales of 2,637 units in May 2022. TVS iQube has been garnering a healthy booking pipeline of over 30,000 units. And thus TVS is confident that it will continue the improvement of supplies in the coming months.
There’s an update under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) subsidy. A host of electric two-wheeler manufacturers have announced a price hike among their products. This is in a bid to offset the burden. As a result of this, the prices of the TVS iQube electric scooter have now been increased by up to INR 22,000.
International Business
TVS’s total exports registered sales of 76,607 units in May 2023 as against 110,245 units in May 2022. For two-wheeler exports, the figure stood at 66,605 units in May 2023 as against 95,576 units in May 2022.
Three-Wheeler
Talking of the three-wheeler segment, TVS registered sales of 11,314 units in May 2023 as against 15,924 units in May 2022.
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