TVS Motor Company has reported its sales growth for August 2022. The two-wheeler registered a growth of 15 per cent in August 2022 with sales of 3,33,787 units. The same for last year, i.e. August 2021, stood at 2,90,694 units.
In the two-wheelers segment, TVS registered a growth of 15 per cent in August 2022. The sales increased from 2,74,313 units in August 2021 to 3,15,539 units in August 2022. Additionally, domestic two-wheeler registration grew to 33 per cent. The figure rose from 1,79,999 units in August 2021 to 2,39,325 units in August 2022.
Motorcycles attributed to a growth of 17 per cent. The sales here increased from 1,33,789 units in August 2021 to 157,118 units in August 2022. Scooters contributed to a growth of 40 per cent. The sales figure grew from 87,059 units in August 2021 to 1,21,866 units in August 2022.
With positive market sentiments in the post-Covid-19 world and the upcoming festive season, TVS is optimistic about the demand. As the availability of semiconductors has also improved, there’s now a balance in the supply chain. Thus, TVS is fully prepared to meet the festive demand.
The company’s total exports rose to a total of 93,111 units in August 2022. The same for last year stood at 1,09,927 units. However, two-wheeler exports dropped to 76,214 units in August 2022 as against 94,314 units in August 2021.
As for three-wheeler sales, the figure grew from 16,381 units registered in August 2021 to 18,248 units in August 2022. Thus, resulting in a growth of 11 per cent.
The newly launched variants of the electric scooter, TVS iQube Electric, are also garnering significant sales. This showcases strong consolidated sales growth with a positive future demand pool. TVS sold 4,418 units of TVS iQube Electric in August 2022, up from 649 units in August 2021.
TVS recently also announced an investment in Formula-1 Racer Narain Karthikeyan’s start-up – DriveX. The main aim is to enable innovative solutions to scale-up offerings in the pre-owned multi-brand two-wheeler space in India.
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