Indian two-wheeler manufacturer TVS Motor Company has registered a four per cent overall growth in sales for August 2023. The company reported total sales of 3,45,848 units in the month as against 333,787 units in August 2022 - 12,061 more units as compared to the corresponding month last year.
When we look specifically at two-wheelers, there was a 5 per cent growth. In August 2022, they sold 315,539 units, and this number increased to 332,110 units in August 2023. This growth was even more prominent in the domestic market, where they registered a 7 per cent increase. In August 2022, they sold 239,325 units, and the sales went up to 256,619 units in August 2023.
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Breaking it down further, motorcycles saw a slight dip in sales, going from 157,118 units in August 2022 to 153,047 units in August 2023. However, scooter sales saw a significant 17 per cent increase, going from 121,866 units in August 2022 to 142,502 units in August 2023.
One of the notable highlights was the TVS iQube Electric scooter, which recorded remarkable growth. In August 2023, the brand sold 23,887 units, a substantial increase from 4,418 units in August 2022. The company claims that demand for this electric scooter remains strong.
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Looking at exports, the company's total exports saw a slight dip, going from 93,111 units in August 2022 to 87,515 units in August 2023. Two-wheeler exports also experienced a slight decrease, going from 76,214 units in August 2022 to 75,491 units in August 2023. However, three-wheelers from the company saw a decrease in sales, going from 18,248 units in August 2022 to 13,738 units in August 2023.
