TVS Motor Company reported its sales for May 2023, and the company’s cumulative (domestic + export) sales increased by 9%. The manufacturer’s total sales in May this year were 330,609 vehicles, compared with 302,982 in May 2022. Total two-wheeler sales were 319,295 last month, up 11 percent from 287,058 in May last year. The company also reported strong growth in sales of its iQube electric vehicle.
Domestic two-wheeler sales were 252,690 units in May 2023, an increase of 32%, compared to 191,482 units sold in the same period last year. Motorcycle sales were 162,248 last month, up 9% year-on-year, compared to May 2022 sales of 148,560. Scooter sales rose 3 percent to 103,203 from 100,665 a year ago.
Also read: TVS iQube S review: Should you buy or wait for the iQube ST?
TVS continued its strong growth momentum, with iQube sales of 17,953 units in May 2023, compared to 2,637 units in May last year. The maker beat Ather Energy to take second place in sales of electric two-wheelers behind Ola Electric. TVS further revealed that it has an order pool of over 30,000 iQube pre-orders in the pipeline and that the company will be able to deliver the same as supply chain constraints improve in the coming months. During the revision of the FAME II subsidy, TVS announced the revised price of the iQube.
In terms of exports, TVS shipments in May this year were 76,607 units, a year-on-year decrease of 30.51%, while overseas shipments in the same period last year were 110,245 units. Two-wheeler exports fell nearly 31% to 66,605 units in May 2023 from 95,576 units in May last year. Finally, three-wheeler exports fell by 29% to 11,314 units from 15,924 units in May 2022.
First published date: June 1, 2023 at 21:58 PM CST
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