Two-Wheeler Sales October 2022: TVS Sales Grow By 2 Per Cent
- TVS is one of India's biggest two-wheeler exporters
- TVS Motor Company expects strong domestic market demand
- TVS iQube electric scooter sales cross 8,000 units in October 2022
TVS Motor Company has reported overall sales growth of 2 per cent in October 2022, increasing from 355,033 units in October 2021 to 360,288 units in October 2022. Total TVS two-wheelers registered sales of 344,630 units in October 2022 as against sales of 341,513 in October 2021, the company said in a statement. Domestic two-wheeler sales registered growth of 7 per cent, increasing from 258,777 units in October 2021 to 275,934 units in October 2022.
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Sales of TVS motorcycles accounted for nearly 1.65 lakh units in October 2022. The company expects market sentiment to remain positive and an uptick in domestic market demand.
Motorcycles accounted for sales of 164,568 units in October 2022, as against sales of 172,361 units in October 2021. Scooter registered a robust growth of 20 per cent with sales increasing from 113,124 units in October 2021 to 135,190 units in October 2022. According to TVS Motor Company, market sentiment has been positive and the company expects demand in domestic market to continue.
Also Read: TVS Signs Agreement With UK Govt For Chevening Scholarships
Demand for the TVS iQube electric scooter is slowly and steadily increasing.
TVS iQube Electric continues to garner great response from customers, showcasing a strong sales growth of 8,103 units in October 2022 as against sales of 395 units in October 2021.
Also Read: TVS-Owned Norton Motorcycles Unveils Updated Commando 961
In international markets, TVS exported more than 80,000 two-wheelers in October 2022. TVS Motor Company is India's second biggest exporter of two-wheelers.
In the international market, the company’s total exports registered sales of 82,816 units in October 2022 as against sales of 95,191 units in October 2021. Two-wheeler exports registered sales of 68,696 units in October 2022 as against 82,736 units in October 2021.
According to TVS, in some international markets, there has been a slowdown due to macro-economic factors. These are predominantly two-wheeler markets, TVS said, adding that the company has moderated despatches in these countries. However, there’s been some retail improvement in these markets in October which will support improved despatches in the coming months, the company added.
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