TVS Motor sales up 4 percent in July, exports down

TVS Motor Company has achieved a 4 percent increase in its total vehicle sales in the month of July. With this, TVS's total sales have increased to 3,25,977 units. At the same time, in the same month a year ago, the company had registered total sales of 3,14,639 units. Its total two-wheeler sales last month grew by 4 percent to 3,12,307 units as against only 2,99,658 units sold by the company in July of 2022.
TVS registered a growth of 17 percent in domestic two-wheeler sales last month. This figure increased from 2,01,942 units in July 2022 to 2,35,230 units last month. The company reported a 2 percent growth in motorcycle sales, from 150,340 units sold in July 2022 to 153,942 units last month.
TVS Motor's scooter sales are expected to register a growth of 5 percent from 116,500 units in the year-ago period to reach 121,941 units in July 2023. In terms of exports, the company registered sales of 89,213 units last month, which is marginally lower than the 112,032 units sold in July 2022. Two-wheeler exports stood at 77,077 units last month, compared to 97,716 units in July 2022.
The company's electric scooter TVS iQube has received an overwhelming response from EV buyers and clocked 13,306 unit sales last month. At the same time, it had sold 6,304 units in the year-ago period. With this, this electric scooter has reached a sales figure of 150,000 units. The scooter is now available across 196 cities across over 316 touchpoints. TVS also sells it in the neighboring country of Nepal.