TVS Motor Company registered a significant improvement in domestic sales at 29.40% YoY in April 2024 with the Jupiter scooter in the lead
In April 2024, TVS Motor Company reported substantial sales growth in domestic markets both in terms of YoY and MoM. It was the Jupiter scooter, Raider and Apache along with the XL moped that commanded a major 72% share in total sales. TVS iQube in the electric two wheeler segment has seen outstanding demand and sales are set to increase with the recent launch of the new top-spec ST variant of the iQube electric scooter
TVS Motor Domestic Sales April 2024
TVS Motor has recorded total sales of 3,10,449 units in April 2024, a 29.40% YoY growth over 2,32,956 units sold in April 2023. This was a volume growth of 68,493 units. It was the TVS Jupiter that commanded the most attention with a 29.38% YoY growth to 77,086 units sold in the past month from 59,583 units sold in April 2023. The Jupiter scooter was also the 2nd best-selling scooter in India after the Honda Activa.
TVS Raider and Apache followed in quick succession with 51,098 units and 45,520 units sold in April 2024 relating to a 62.26% and 19.32% YoY growth. These two bikes also featured at Nos. 5 and 6 on the list of best-selling motorcycles last month. The Apache lineup was also extended with the new RTR Black Edition that will compete with the Bajaj Pulsar and Yamaha FZ in the 160cc category.
TVS XL moped, the only such offering in the company portfolio, has seen a 20.04% YoY growth in sales to 41,924 units while the Ntorq 125cc scooter sales grew at 13.77% to 30,411 units in the past month. TVS Motor recorded sales of its electric iQube at 16,713 units with a massive 168.40% YoY growth. The transition from FAME II which ended on 31st March 2024 to the new Electric Mobility Promotion Scheme (EMPS) 2024 that came into effect from April 2024 continued to see robust demand in the electric two wheeler segment.
TVS Sport sales dipped 15.01% while Radeon sales were up 31.37% to 12,316 units. It was the TVS Zest 110cc scooter that received overwhelming demand last month with a YoY growth of 785.51% to 12,316 units from just 9,375 units sold in April 2023. The sales list also included TVS Ronin (2,130 units, Apache 310 (422 units) and Star City (1 unit). Star City saw its sales fall 99.98% over 4,627 units sold in April 2023 while Pep+ sales were down to 0 units.
TVS Motor MoM Sales April 2024
On a MoM basis, TVS has also posted positive sales which grew at 15.71% over 2,60,532 units sold in March 2024. Almost all models in the company portfolio have recorded MoM growth in sales except for the Zest, Apache 310 and Star City.
Jupiter scooter sales grew by 7.98% MoM from 71,390 units while Raider sales were up 34.38% from 38,026 units sold in March 2024. TVS Apache, XL and Ntorq have also posted significant MoM growth while iQube and Sport sales grew by 16.66% and 31.55% respectively.
TVS Radeon 110 cc commuter motorcycle that is a rival to Hero Splendor has seen a 9.65% MoM growth to 12,316 units from 11,232 units sold in March 2024. However, Zest sales dipped considerably by 12.01% over 9,239 units sold in March 2024. Ronin has also seen an 11.46% growth though sales of Apache 310 and Star City+ dipped by 5.38% and 91.67% respectively on a MoM basis.
