In August 2023, TVS Motor Company, a global manufacturer of two and three-wheeled vehicles, reported a 4% increase in sales, reaching a total of 345,848 units, compared to 333,787 units in the same month last year.
In the segment of two-wheelers, the company experienced a 5% growth, with total sales rising from 315,539 units in August 2022 to 332,110 units in August 2023. Domestically, two-wheeler sales saw an even stronger growth rate of 7%, surging from 239,325 units in August 2022 to 256,619 units in August 2023.
In terms of motorcycles, the company sold 153,047 units in August 2023, slightly lower than the 157,118 units sold in August 2022. However, scooter sales saw a 17% growth, reaching 142,502 units in August 2023, up from 121,866 units in August 2022.
TVS iQube Electric, an electric vehicle in the company’s lineup, achieved its highest-ever sales, totalling 23,887 units in August 2023, a substantial increase from the 4,418 units sold in August 2022. The order book for the TVS iQube Electric scooter continues to be healthy.
In the international market, TVS Motor Company exported a total of 87,515 units in August 2023, a slight decrease from the 93,111 units exported in August 2022. Specifically, two-wheeler exports amounted to 75,491 units in August 2023, compared to 76,214 units in August 2022.
In the three-wheeler segment, the company sold 13,738 units in August 2023, down from 18,248 units sold in August 2022.
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