TVS Motor Company reports impressive 31% sales growth in November 2023

TVS Motor Company, a global leader in two and three-wheeler manufacturing, has announced robust sales figures for November 2023. The company recorded a total sale of 364,231 units during the month, marking a significant 31 per cent growth compared to the same period last year when sales stood at 277,123 units.

Two-wheeler segment shows remarkable growth

The two-wheeler segment played a pivotal role in TVS Motor Company's outstanding performance, witnessing a remarkable 34 per cent growth. Total two-wheeler sales surged from 263,642 units in November 2022 to an impressive 352,103 units in November 2023. The domestic two-wheeler market experienced an even more substantial growth of 50 per cent, with sales escalating from 191,730 units to 287,017 units during the same period.

Breaking down the two-wheeler segment, motorcycles exhibited 19 per cent growth, with sales rising from 145,006 units in November 2022 to 172,836 units in November 2023. Scooters, on the other hand, saw an exceptional 62 per cent growth, reaching 135,749 units in November 2023 compared to 83,679 units in November 2022.

Electric vehicle sales surge

TVS Motor Company's foray into the electric vehicle market has proven successful, with the company selling 16,782 units of electric vehicles in November 2023. This represents a substantial increase from the 10,056 units sold in the same month of the previous year. The TVS iQube continues to enjoy a robust booking pipeline, indicating sustained demand for electric mobility solutions.

International business and exports

In the international business segment, TVS Motor Company's total exports accounted for 75,203 units in November 2023, slightly lower than the 84,134 units recorded in November 2022. Two-wheeler exports also experienced a marginal decline, reaching 65,086 units in November 2023 compared to 71,912 units in the same month the previous year. However, customer retails in the international markets continue to demonstrate growth.

Three-wheeler segment

The three-wheeler segment of TVS Motor Company registered sales of 12,128 units in November 2023, showing a modest decrease from the 13,481 units sold in November 2022.

(With PTI inputs.)