TVS Motor Company recently released its sales report for October 2022. The Company registered a growth of 2 per cent. The sales increased from 3,55,033 units in October 2021 to 3,60,288 units in October 2022. The festive season was a massive contributor to the increased sales volume. This is the case with TVS Motor Company as well.
Two-Wheeler
Total two-wheelers registered sales of 3,44,630 units for October 2022. The same for October 2021 stood at 3,41,513 units. Domestic two-wheeler sales registered a growth of 7 per cent. The figure rose from 2,58,777 units in October 2021 to 2,75,934 units in October 2022.
Motorcycles registered sales of 1,64,568 units against 172,361 units for the same period last year. Meanwhile, Scooter sales’ registered a growth of 20 per cent. The figures rose from 1,13,124 units in October 2021 to 135,190 units in October 2022. Suzuki mentioned that the market sentiments for all its products have been very positive. In fact, they are optimistic that the demand in the domestic two-wheeler market will also continue in the coming months.
Electric Vehicle
TVS iQube Electric continues to garner significant sales from customers. The sales in the department stood at 8,103 units in October 2022 as against sales of 395 units in October 2021.
International Business
The Company’s total exports registered sales of 82,816 units in October 2022, up from 95,191 units in October 2021. Two-wheeler exports reported sales of 68,696 units in October 2022; meanwhile, the figure for October 2021 stood at 82,736 units. In some international markets, Suzuki mentioned a slowdown due to macroeconomic factors. These are predominantly two-wheeler markets; hence, Suzuki has moderated despatches in these countries. However, there are signs of some retail improvement in these markets in October which will support improved despatches in the coming months.
Three-Wheeler
The Three-wheelers of the Company grew by 16 per cent as compared to October 2021. The figure for the given period, i.e. October 2022, stood at 15,658 units as against 13,520 units in October 2021.
Also Read: TVS sales grow by 9% in September 2022, 3,79,011 units dispatched.
