TVS Motor Company reported a 20% growth in monthly sales for September 2024, with total sales reaching 482,495 units compared to 402,553 units in September 2023. This increase is driven by a significant rise in two-wheeler sales, which grew by 22% to 471,792 units from 386,955 units in the previous year, while three-wheeler sales dropped.
Two-wheeler sales
The company’s domestic two-wheeler sales saw a 23% increase, climbing from 300,493 units in September 2023 to 369,138 units in September 2024. Motorcycles experienced a 23% increase in sales, going from 186,438 units to 229,268 units. Scooters also did well, registering a 20% growth with sales rising from 155,526 units to 186,751 units over the same period.
EV sales
Electric vehicle (EV) sales surged by 42%, reaching 28,901 units in September 2024, up from 20,356 units in September 2023. The improvements in this segment underscore the growing consumer shift towards sustainable transportation options.
“The Company’s total exports registered a growth of 11% with sales increasing from 100,294 units in September 2023 to 111,007 units in September 2024,” says the report. Two-wheeler exports posted an impressive 19% growth, with sales rising from 86,462 units last year to 102,654 units this year.
Three-wheeler sales
On the other hand, the three-wheeler segment registered a decline. Sales dropped from 15,598 units in September 2023 to 10,703 units in September 2024, indicating a potential area of concern for the company.
In the second quarter of the financial year 2024-25, TVS‘s two-wheeler sales grew by 15%, increasing from 10.31 lakh units in the same quarter of the previous year to 11.90 lakh units. Conversely, the three-wheeler segment saw lower sales, registering 0.38 lakh units in the current quarter compared to 0.43 lakh units in the second quarter of FY 2023-24.
Exports
Total exports during the second quarter of FY 2024-25 also grew by 11%, rising from 2.77 lakh units in the same period last year to 3.09 lakh units in the current quarter. This growth in exports further bolsters TVS Motor Company’s robust performance metrics for the reported periods.
