In the rapidly evolving world of automobiles, TVS Motor Company continues to mark its presence. The numbers for September 2023 are in, and they paint a promising picture for the auto giant.
Here’s a summarized overview of TVS Motor Company’s sales performance in September 2023 and its second quarter:
September 2023 Sales Performance:
- Overall Growth: 6% increase with 402,553 units sold in September 2023 compared to 379,011 units in September 2022.
- Two-Wheeler Segment:
- Overall: 7% growth, sales up from 361,729 units to 386,955 units.
- Domestic: 6% growth, sales up from 283,878 units to 300,493 units.
- Motorcycles: 10% growth, sales up from 169,322 units to 186,438 units.
- Scooters: 8% growth, sales up from 144,356 units to 155,526 units.
- Electric Vehicle Segment: Sales of TVS iQube Electric increased substantially from 4,923 units in September 2022 to 20,356 units in September 2023.
- International Business:
- Overall Exports: 8% growth, sales up from 92,975 units to 100,294 units.
- Two-Wheeler Exports: 11% growth, sales up from 77,851 units to 86,462 units.
- Three-Wheeler Segment: There was a decline in sales, from 17,282 units in September 2022 to 15,598 units in September 2023.
Second Quarter Sales Performance (Q2):
- Two-Wheeler Segment: 6% growth, with sales of 10.31 lakh units compared to 9.77 lakh units in Q2 of FY 22-23.
- Three-Wheeler Segment: There was a decline in sales, from 0.51 lakh units in Q2 of FY 22-23 to 0.43 lakh units in the current year’s Q2.
The significant growth in the Electric Vehicle segment stands out, indicating a potentially growing market acceptance and demand for electric two-wheelers. The decline in the three-wheeler segment might be an area the company needs to examine and address.
In the dynamic landscape of the automobile industry, TVS Motor Company has showcased resilience and adaptability, as evident from its September 2023 sales performance. While the rise in two-wheeler and electric vehicle sales underscores the company’s alignment with current market trends, the dip in the three-wheeler segment indicates areas for potential improvement. As we observe TVS’s strategic moves, it’s evident they are not just keeping pace with the industry’s shifts but are actively shaping the future of mobility.