In October 2023, TVS Motor Company achieved a remarkable milestone by achieving its highest-ever monthly sales. The company successfully sold a total of 434,714 units during this month, marking a notable growth rate of 21 per cent when compared to the figures from October 2022, which stood at 360,288 units.
Sales Report Details
The two-wheeler category, in particular, witnessed substantial growth, experiencing a 22 per cent increase. Sales surged from 344,630 units in October 2022 to an impressive 420,610 units in October 2023. Notably, the domestic market demonstrated even more significant growth in two-wheeler sales, with a remarkable 25 per cent increase. This resulted in sales figures rising from 275,934 units in October 2022 to an impressive 344,957 units in October 2023.
Taking a closer look at specific product categories, motorcycles displayed a robust growth rate of 23 per cent. Sales in this category escalated from 164,568 units in October 2022 to 201,965 units in October 2023. Scooters also showed impressive performance, with a growth rate of 22 per cent, achieving sales of 165,135 units in October 2023 compared to 135,190 units in October 2022.
TVS Motor Company’s electric vehicle, the TVS iQube Electric, witnessed a substantial increase in sales. In October 2023, the company successfully sold 20,153 units of this electric scooter, marking a significant leap from the 8,103 units sold in October 2022.
In the international market, the company’s total exports registered a 6 per cent growth, increasing from 82,816 units in October 2022 to 87,952 units in October 2023. Within the two-wheeler export category, sales figures saw a noteworthy increase of 10 per cent, reaching 75,653 units in October 2023 compared to 68,696 units in October 2022.
Three-Wheeler Sales Figure
However, the company’s three-wheeler segment experienced a sales volume of 14,104 units in October 2023, which was slightly lower than the 15,658 units sold in the same month in 2022. Despite this minor decrease, TVS Motor Company’s overall performance in the two-wheeler sector and electric vehicle sales exemplifies its continued growth and success.