TVS Sales surged to 4.82 lakh units in Sept 2024 boosted by electric vehicle sales which grew by 42% YoY
TVS Motor Company, among India’s leading 2W and 3W manufacturing brand, has achieved a 23.21% YoY growth with 4,82,495 units sold in September 2024. The company has witnessed strong growth both across its 2W and EV segments while exports also saw positive growth. In the two wheeler segment, sales improved both where motorcycles and scooters were concerned. The company’s sole moped also witnessed improved sales while sales across the electric scooter segment was at its highest with a 42% YoY growth.
TVS Sales YoY – Sept 2024
TVS Motor has seen its motorcycle sales escalate by 22.97% in Sept 2024. The company sold 2,29,268 units in the past month, up from 1,86,438 units sold in Sept 2023. This was a volume growth of 42,830 units with motorcycles commanding a 48.60% share in the company lineup.
Scooter sales also grew by 20.08% YoY to 1,86,751 units while e-scooter sales surged by 41.98% to 28,901 units. This was the highest ever EV monthly sales registered. TVS sells the XL moped as its only offering in this segment. Moped sales were up 23.96% to 55,773 units, over 44,991 units sold in Sept 2023 relating to a 10,782 unit volume growth.
This took total domestic sales to 3,69,138 units in Sept 2024, a 22.84% improvement from 3,00,493 units sold in the corresponding month last year. 2W exports on the other hand, improved by 18.73% to 1,02,654 units from 86,462 units sold in Sept 2023. The percentage of domestic sales and exports stand at 78.76% and 21.76% respectively. 3W sales also improved in domestic markets by 33.07% to 2,350 units from 1,766 units sold in Sept 2023.
However, 3W exports suffered a 39.61% decline on a YoY basis to 8,353 units in the past month over 13,832 units shipped in the same month of 2023. This total 3W sales fell by 31.38% YoY to 10,703 units as compared to 15,598 units sold in Sept 2023. Growth was seen across domestic 2+3W sales (3,71,488 units) by 22.90% and exports (1,11,007 units) of 2+3 W by 10.68%, taking total sales to 4,82,495 units in Sept 2024. This was over 4,02,553 units sold in Sept 2023, relating to a 19.86% YoY growth.
TVS Sales MoM – Sept 2024
Sales of TVS Motor also improved on a month-on-month (MoM) basis with growth seen across all segments except 3Ws which has reported negative growth both in terms of domestic sales and exports. 2W sales saw motorcycles up 34.48% from 1,70,486 units sold in August 2024 while scooter sales grew by 14.13% from 1,63,629 units. E-scooter sales also improved by 16.64% while moped sales grew by 24.70%.
2W domestic sales and exports improved by 27.70% and 14.35% MoM respectively while total 2W sales were up 24.54% over 3,78,841 units sold in August 2024. This related to a 92,951 unit volume growth. 3W domestic sales and exports dipped 7.44% and 18.17% respectively, taking total sales in this segment down 16.04% over 12,747 units sold in August 2024.
Improved domestic sales of 2W brought up total domestic sales by 27.39% while total exports were up 11.03% taking total 2+3W (domestic + exports) up 23.21% to 4,82,495 units in Sept 2024 over 3,91,588 units sold in August 2024.
TVS Motor Sales Sep 2024 At 4.82 Lakh