Three percent growth is still growth, and TVS moved 275,115 units last month.
The TVS Motor Company reported a growth of three percent year over year for its sales last January. The Indian motorcycle company was able to move 275,115 units in January 2023, a bigger figure compared to its January 2022 figure of 266,788 units.
Motorcycles and other two-wheelers carried TVS’ sales, with the category gaining four percent year over year with 264,710 units compared to 254,139 units sold in the same time last year, January 2023 against 2022 respectively.
Autocar Pro reported on the story, stating that “Domestic two-wheelers registered a growth of 29 percent, with sales increasing from 1,67,795 units in January 2022 to 2,16,471 units in January 2023.”
Motorcycles accounted for a total of 121,042 this year which is up against 137,630 units sold back in January 2022. Scooter sales, however, are much better this year compared to last year. 80,580 units were moved in January last year, but 2023 scooter sales jumped by 32 percent, accounting for 106,537 units.
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Electric scooters are also part of the marginal growth for TVS this year, with iQube recording its highest-ever sales record with 12,169 units sold in January 2023. Only 1,529 units were moved at the same time last year. The iQube is now more widely available across India, with more than 100 cities and 200 locations selling the model. This also marks the third consecutive month that the iQube has sold over 10,000 units.
As for exports, the company reported 57,024 last month, with 48,239 of those sales being two-wheelers. A total of 97,858 units were shipped out in January 2022, with 86,344 of those being two-wheelers. The stark contrast from last year was due to “macroeconomic uncertainties in a few international markets,” and as such “the company has reduced stock to enable channel partners.” The incoming months should be better as the company is optimistic when it comes to improving the number of dispatches in the next few months.
Finally, three-wheelers accounted for 10,405 units sold in January 2023, which is a slight shrink compared to its 2022 figure of 12,649 units.
Source: Autocar Pro