Q3 sales growth at 25%
Exports grew by 8% in December 2023
TVS Motor Company recorded monthly sales of 301,898 units in December 2023 with a growth of 25% as against 242,012 units in the month of December 2022.
Two-Wheeler
Total two-wheelers registered a growth of 27% with sales increasing from 227,666 units in December 2022 to 290,064 units in December 2023. Domestic two-wheeler registered growth of 33% with sales increasing from 161,369 units in December 2022 to 214,988 units in December 2023.
Motorcycle registered a growth of 19% with sales increasing from 124,705 units in December 2022 to 148,049 units in December 2023. Scooter registered a growth of 34% with sales increasing from 76,766 units in December 2022 to 103,167 units in December 2023.
Electric Vehicle
The Company sold 11,232 units in December 2023 as against sales of 11,071 units in December 2022.
International Business
The Companys total exports grew by 8% increasing from 79,402 units registered in December 2022 to 85,391 units in December 2023. Two-wheeler exports registered a growth of 13% with sales increasing from 66,297 units registered in December 2022 to 75,076 units in December 2023. The markets in IB have shown positive growth and the momentum will further improve.
Three-Wheeler
Three-wheeler of the Company registered sales of 11,834 units in December 2023 as against 14,346 units in December 2022.
Third Quarter Sales Performance
During the third quarter of the current financial year, two-wheelers posted a robust growth of 27% with sales of 10.6 lakh units as against sales of 8.4 lakh units in the third quarter of FY 22-23. Three-wheeler of the Company registered sales of 0.38 lakh units in the third quarter of the current year as against 0.43 lakh units in the third quarter of FY 22-23. Two-wheeler sales include EV sales of 0.48 lakh units in the third quarter of FY 23-24 as against 0.29 lakh units in the third quarter of FY 22-23 with a growth of 65%.
About TVS Motor Company
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.
For more information, please visit www.tvsmotor.com.
