The company’s motorcycle and scooter segments did well last month with particular emphasis on the iQube, sales of which grew 148 percent YoY
TVS Motor Company reported their highest-ever monthly sales in October 2023. The company saw both its motorcycle and scooter segments show off positive results while growth was seen both in domestic and global markets. Total TVS sales (domestic + exports) stood at 4,19,292 units in the past month, up from 3,43,614 units sold in October 2022. This related to a volume growth of 75,615 units. It was also a MoM growth from a total of 3,85,443 units sold in September 2023 (domestic – 3,00,493 units + exports – 84,950 units).
TVS Jupiter leads the domestic sales list with 26.62% market share
Total domestic sales in October 2023 stood at 3,44,957 units which was a 25.01 percent YoY growth over 2,75,934 units sold in October 2022. This led to a 69,023 unit volume growth. It was Jupiter that topped sales charts with 91,824 units sold in October 2023, up 19.19 percent from 77,042 units sold in October 2022.
Jupiter currently commands a 26.62 percent share in the company lineup. It was in October 2023 that the company introduced the new Jupiter 125 SmartXonnect. Following this introduction, TVS Jupiter 125 is now offered in 3 variants of Drum Alloy, Disc and SmartXonnect variants, priced between Rs 86,405 and Rs 96,855 (ex-showroom).
It was the TVS XL that was at No. 2 with 53,162 units sold last month. This was a 19.10 percent YoY growth from 44,638 units sold in October 2022. TVS Raider sales improved by 96.59 percent YoY to 47,483 units last month from 24,153 units sold in October 2022. However, it was the Apache that reported lower sales down by 4.39 percent YoY to 39,187 units. There had been 40,988 units sold in October 2022.
iQube electric scooter showed highest sales growth of 148.32%
While TVS Ntorq (34,476 units) and Sport (24,864 units) saw sales growth at 11.04 percent and 37.17 percent YoY, it was outstanding sales seen in the case of the iQube e-scooter that has seen sales increase 148.32 percent YoY. iQube sales which had stood at 8,103 units in October 2022 improved to 20,121 units in the past month. A new electric scooter has been spied on test in Bengaluru with a design that is strikingly akin to the iQube while it also follows some Ather designs.
TVS has also seen sales growth for both the Radeon (16,977 units) and Zest (7,410 units), however sales dipped for the Star City by 22.76 percent down to 5,784 units in October 2023, down from 7,488 units sold in October 2022. There were also 2,620 units of Ronin and 1,049 units of the TVS 310 sold last month, with the latter recording a 186.61 percent YoY growth from 366 units sold in October 2022.
TVS Exports October 2023
With a strong global reach and performance in export markets, TVS exports improved by 9.84 percent in October 2023 to 74,337 units, up from 67,680 units sold in October 2022. In international markets, it was TVS Star City 125 that saw most sales at 47,550 units up 115.82 percent from 22,032 units sold in October 2022 to command a 63.97 percent share on this list.
At No. 2 was the Apache with 8,394 units sold last month, up 9.27 percent from 7,682 units sold in October 2022 while Jupiter exports also improved by 115.94 percent to 5,718 units last month from 2,648 units sold in the same month last year. TVS Ntorq also saw higher exports by 51.67 percent YoY to 5,554 units in October 2023 from 3,662 units sold in October 2022.
Raider had 4,253 units shipped last month, up by 4.24 percent over 4,080 units exported in October 2022. Sales de-growth was seen in the case of TVS Sport, exports of which fell by 58.18 percent to 1,878 units in October 2023. There had been 4,491 units shipped in October 2022. Even as there were 628 units of the Ronin and 348 units of TVS XL exported last month, exports of the RR310 dipped by 90.41 percent to just 14 units, down from 146 units shipped in October 2022.
