One of the biggest 2W manufacturers worldwide is TVS Motor. The largest market for TVS is India, where sales figures indicate significant development. The area where TVS recorded a reduction was in exports. 1,21,042 out of the total 1,21,042 units sold last month were motorcycles. TVS’s Raider and Apache motorcycles are its best-selling models.
This wasn’t enough to surpass the 1,24,705 units sold the month prior and the 1,37,630 units sold a year ago. The result was a YoY loss of 12.05% and a MoM decline of 2.94% for TVS motorcycles. YoY volume loss was 16,588 units, while MoM volume loss was 3,663 units. Despite its losses, TVS’s main asset is its 45.73% market share in motorcycles.
Jan 2023 TVS Sales
Scooters outgrew Jupiter in the lead with good growth. TVS scooters substantially above the YoY target of 80,580 and the MoM target of 76,766 units in January 2023, selling 1,06,537 units. In India, scooters grew by 32.21% YoY and 38.78% MoM, commanding a market share of 40.25%. Volume increased by 25,957 units YoY and 29,771 units MoM.
TVS has had excellent success with iQube, which sold 12,169 units in January 2023. YoY growth is enormous at 695%, while MoM growth is respectable at 9.92%. Since iQube contributed 1,529 units in January 2022, EVs have gone a long way. The only moped manufacturer in India at the moment is TVS, which sold 37,131 units. Sales increased by 3.35% YoY and by 41.75% MoM.
All of these contribute to the increase in total 2W sales in the domestic market, which increased to 2,16,471 units with a growth rate of 34.15% MoM and 29.01% YoY. 2W’s domestic sales make up 81.78% of its total revenues, while its exports make up 18.22%. Speaking of exports, TVS shipped out 48,239 units in November. A YoY fall of 44.13% and a MoM decline of 27.24% were recorded.
This had an impact on the total 2W figure (domestic + exports), which in January 2023 was 2,64,710 units. Positive growth of 4.16% YoY and 16.27% MoM was recorded by TVS. 10,751 units were added to the total 2W volume acquired year over year and 37,044 units month over month.
Sales of TVS 3W
TVS has a strong 3W portfolio in addition to a 2W portfolio. TVS sold 1,620 3W cars on the domestic market. The increase was 42.73% YoY and 30.54% MoM, and it made up 15.57% of all 3W sales for TVS. Despite this, TVS’s primary 3W markets are outside of India since exports make up 84.43% of all 3W sales.
8,785 3W vehicles were shipped by TVS, which experienced a 23.70% YoY and 32.96% MoM drop. As a result, overall 3W sales (domestic + exports) suffered and went into the negatives entirely. Total domestic sales (2W + 3W) accounted for 79.27% of the market with 2,18,091 units sold, growing by 29.10% YoY and 34.12% MoM.
There were only 57,024 pieces exported in all, hardly little to brag about. Despite a decline in exports, TVS nevertheless had impressive overall sales of 2,75,115 units when domestic and international sales are included. The gains were respectable at 3.12% YoY and 13.68% MoM. 8,327 units of volume were added during the past year, and 33,103 units over the past month.
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