TVS Motor Company has reported sales growth in August 2023 compared to both the previous year (YoY) and the previous month (MoM). For a comprehensive understanding of their performance, let’s delve into the numbers and assess how they fared in August 2023 compared to August 2022 and July 2023.
In August 2023, TVS Motor sold 1,53,047 motorcycles, representing a modest decline of 2.59 per cent compared to the 1,57,118 units sold in August 2022. Notable models like the Apache and Raider contributed to these sales figures.
On the other hand, scooter sales exhibited robust growth, surging by 16.93 per cent. TVS Motor sold 1,42,502 scooters in August 2023, compared to 1,21,866 units in August 2022. Of particular note is the iQube electric scooter, which witnessed an astonishing growth rate of 440.67 per cent, selling 23,887 units in August 2023, compared to a mere 4,418 units in August 2022, marking its highest-ever sales.
The TVS XL100 moped sales remained nearly stable, with a marginal increase of 0.02 per cent. In August 2023, TVS Motor sold 36,561 mopeds, compared to 36,555 units in August 2022.
The domestic two-wheeler segment saw a healthy growth of 7.23 per cent, with 2,56,619 units sold in August 2023, compared to 2,39,325 units in August 2022. However, the two-wheeler exports experienced a slight dip of -0.95 per cent, with 75,491 units exported in August 2023, compared to 76,214 units in August 2022.
The domestic three-wheeler segment performed well, showing a growth rate of 26.87 per cent. In August 2023, TVS Motor sold 1,714 units, up from 1,351 units in August 2022. In contrast, three-wheeler exports declined by -28.84 per cent, with 12,024 units exported in August 2023, compared to 16,897 units in August 2022.
Comparing August 2023 to July 2023, TVS Motorcycle sales experienced a slight decrease of -0.58 per cent, with 1,53,047 units sold in August 2023.
In contrast, scooter sales surged by 16.86 per cent compared to July 2023, with 1,42,502 units sold in August 2023. The iQube electric scooter continued its impressive growth trend, with a month-on-month increase of 79.52 per cent, selling 23,887 units in August 2023.
Moped sales witnessed a modest growth of 0.38 per cent with 36,561 units sold in August 2023, compared to 36,424 units in July 2023.
Domestic two-wheeler sales grew by 9.09 per cent compared to July 2023, with 2,56,619 units sold in August 2023. However, export numbers dipped by -2.06 per cent with 75,491 units exported in August 2023, compared to 77,077 units in July 2023.
The domestic three-wheeler segment saw an increase of 11.73 per cent compared to July 2023, with 1,714 units sold in August 2023. Three-wheeler exports experienced a minor decline of -0.92 per cent with 12,024 units exported in August 2023.
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