The Business Bytes
TBB BUREAU
HOSUR, SEPT 01, 2022
TVS Motor Company registered a growth of 15% in August 2022 with sales of 333,787 units as against 290,694 units in the corresponding month in the year 2021.
Total two-wheelers registered a growth of 15% in August 2022 with sales increasing from 274,313 units in August 2021 to 315,539 units in August 2022. Domestic two-wheeler registered growth of 33% with sales increasing from 179,999 units in August 2021 to 239,325 units in August 2022.
Motorcycles registered a growth of 17% with sales increasing from 133,789 units in August 2021 to 157,118 units in August 2022. Scooter registered a growth of 40% with sales increasing from 87,059 units in August 2021 to 121,866 units in August 2022.
With positive market sentiments and the upcoming festive season, the Company is optimistic about the demand in the domestic two-wheeler market. As the availability of semiconductors has supported in reaching a balanced supply chain, the Company is now geared up to swiftly meet the festive demand.
The Company’s total exports registered sales of 93,111 units in August 2022as against sales of 109,927 units in August 2021. Two-wheeler exports registered sales of 76,214 units in August 2022as against 94,314 units in August 2021.While some geographies in the international market are experiencing economic slowdown and higher inflation, the Company is optimistic about the sales momentum returning to normal levels gradually.
Three-wheelers of the Company grew by 11% growing from 16,381 units registered in August 2021 to 18,248 units in August 2022.
The newly launched variants of the Electric scooter, TVS iQube Electric continue to garner great response from customers, showcasing a strong consolidated sales growth, with a positive future demand pool. As efforts on increasing the capacity and delivery are showing positive results, the Company sold 4,418 units of TVS iQube Electric in August 2022 as against sales of 649 units in August 2021.
The Company recently announced an investment in Formula-1 Racer Narain Karthikeyan’s start-up – DriveX, which is aimed at enabling innovative solutions to scale-up offerings in the pre-owned multi-brand two-wheeler space in India.
