TVS Motor Company, a renowned player in the Indian automotive industry, has announced its impressive sales figures for September 2023. The company reported a noteworthy 6% growth in sales compared to the same month in the previous year, reaffirming its position as a key player in the two-wheeler and electric vehicle segments. Let’s delve into the details of TVS Motor Company’s September 2023 sales performance.
Overall Sales Growth
In September 2023, TVS Motor Company achieved total sales of 402,553 units, demonstrating a significant upswing from the 379,011 units sold in September 2022. This robust growth is indicative of the company’s unwavering commitment to delivering quality vehicles and innovative solutions to meet the evolving needs of its customers.
Two-Wheeler Segment
The two-wheeler segment proved to be a standout performer for TVS Motor Company, with total sales surging by 7%. In concrete terms, this translates to a growth from 361,729 units in September 2022 to a commendable 386,955 units in September 2023. This impressive performance was mirrored in the domestic two-wheeler market, where sales exhibited a substantial 6% growth, climbing from 283,878 units in September 2022 to an impressive 300,493 units in September 2023.
Motorcycle and Scooter Categories
Within the two-wheeler segment, TVS Motor Company’s motorcycles recorded an exceptional 10% growth. The company sold 186,438 units in September 2023, compared to 169,322 units in the same month of the previous year. The scooter category also posted a remarkable 8% growth, with sales escalating from 144,356 units in September 2022 to 155,526 units in September 2023. These results underscore the strong demand for TVS Motor Company’s diverse range of motorcycles and scooters.
Electric Vehicle Segment
TVS Motor Company’s foray into the electric vehicle (EV) sector has yielded promising results. In September 2023, the company sold 20,356 units of the TVS iQube Electric, representing a substantial increase from the 4,923 units sold in September 2022. This impressive growth highlights the growing interest and acceptance of electric vehicles in the Indian market.
International Business Expansion
The company’s international business segment also witnessed robust growth, with total exports increasing by 8%. The export figures rose from 92,975 units in September 2022 to an impressive 100,294 units in September 2023. Within this category, two-wheeler exports registered an impressive 11% growth, reaching 86,462 units in September 2023, up from 77,851 units in September 2022. These figures signify TVS Motor Company’s successful expansion into global markets and the positive reception of its products.
Three-Wheeler Segment
In the three-wheeler segment, TVS Motor Company recorded sales of 15,598 units in September 2023. While this figure reflects a slight decrease compared to the 17,282 units sold in September 2022, it’s important to consider the broader context and the overall positive growth trajectory of the company.
Second Quarter Sales Performance
Looking at the second quarter of the current financial year, TVS Motor Company’s two-wheelers displayed a commendable 6% growth, with total sales reaching 10.31 lakh units. The three-wheeler segment, while experiencing a marginal decline, still contributed significantly with sales of 0.43 lakh units during the same period.
TVS Motor Company’s outstanding sales performance in September 2023, driven by growth in the two-wheeler, electric vehicle, and international business segments, underscores its commitment to innovation and customer satisfaction. As the company continues to evolve and expand its product offerings, it remains a prominent player in the Indian automotive industry.
