TVS Motor Company records 13% increase in two-wheeler sales
What's the story
TVS Motor Company reported a significant sales increase in May 2024, selling a total of 369,914 units.
This figure represents a 12% hike compared to the sales of May 2023 which stood at 330,609 units.
The majority of this increase was attributed to two-wheeler sales that reached an impressive total of 359,590 units, marking a substantial rise of 13% from the previous year's count.
Dominance
Domestic two-wheeler sales lead the way
TVS Motor Company's domestic two-wheeler sales also experienced a boost, reaching 271,140 units in May 2024.
This figure signifies a 7% increase from the previous year's sales of 252,690 units in May.
Motorcycles emerged as the dominant product in TVS' two-wheeler sales with a total of 173,627 units sold last month, marking a growth of 7% over May 2023.
Rising trends
Scooter sales and exports show robust growth
Scooter sales for TVS Motor Company also demonstrated strong growth, with a total of 145,305 units sold in May 2024.
This figure indicates a significant increase of 20% compared to the sales in May 2023.
The TVS iQube model played a key role in this success, selling 18,674 units last month.
Additionally, the company's exports saw an upward trend with an increase of 27%, reaching a total of 96,966 units last month.
Market dip
Three-wheeler sales experience a decline
Despite the overall positive sales trend, TVS Motor Company's three-wheeler sales saw a decline in May 2024.
The company sold 10,324 units of three-wheelers during this period.
This figure represents a 10% drop compared to the sales volume of 11,314 units recorded in May 2023.
This was the only segment that did not experience growth for the company during this period.