TVS Motors’ December sales down 3.28%

TVS Motors announced on Monday that sales of its two-wheelers fell by 3.28% in December 2022 to 227,666 units sold, compared to 235,392 units sold in the same period last year. The auto company said its domestic two-wheeler sales rose 10% in December 2022, with 161,369 retail sales last month compared with 146,763 a year earlier.

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Updated on:
January 2, 2023 at 15:52 pm

TVS iQube is witnessing substantial YoY growth in December 2022. (HT Auto/Sabyasachi Dagupta)

Motorcycle sales at TVS fell 6.73% last month to 124,705 units sold, compared to December 2021 retail sales of 133,700 units. On the other hand, the car company’s scooter sales rose 14% year-on-year to 76,766 units sold in December 2022 compared to 67,533 units in December 2021.

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As far as traditional players are concerned, TVS remains one of the frontrunners in the electric two-wheeler segment in India. The automaker claims its TVS iQube electric scooter continues to do well, with 11,071 registered in December 2022. The electric scooter claims a high order volume and growing consumer acceptance. The sales volume of the same electric scooter in December 2021 was 1212 units, which means that the sales volume of iQube in December last year has increased significantly.

In the international market, TVS’ total two-wheeler export sales in December 2022 were 66,297 units, compared with 88,629 units in December last year, a sharp drop in sales.

In the third quarter of the current fiscal year, TVS’s two-wheeler segment registered a marginal growth of 1.2% with sales of 840,000 units compared to 830,000 units sold in the third quarter of the previous fiscal year.

First published date: Jan 2, 2023 at 15:49 PM CST

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