TVS Motor Company Reports March 2023 Sales Figures for Jupiter, Apache, Ntorq, iQube, and XL 100

TVS bikes and scooters have gained immense popularity in India due to their superior performance, reliability, and affordability. With a wide range of products catering to different segments of the market, TVS has been successful in meeting the diverse needs of Indian consumers, making it a trusted brand in the country.

In March 2023, TVS Motor Company witnessed a 4.76 percent increase in two wheeler sales (domestic + exports), with total sales rising from 2,90,810 units in March 2022 to 3,05,371 units in March 2023.

TVS Jupiter sales

The TVS Jupiter was the most in-demand two wheeler in the domestic market, while the Star City 125 led the export sales. The company sold a total of 2,40,780 units in March 2023, representing a 22.25 percent YoY growth compared to 1,96,956 units sold in March 2022, indicating a volume growth of 43,824 units.

In the domestic market, TVS Jupiter emerged as the top-selling model among the company's lineup, with sales increasing by 5.48 percent YoY to 58,874 units in March 2023 from 55,813 units in March 2022.

This represents a volume growth of 3,061 units and a market share of 24.45 percent. Moreover, in FY 2023, TVS Jupiter was the second best-selling scooter after the Honda Activa, with a total of 7,29,546 units sold.

TVS XL100, Apache and Raider

The TVS XL100 moped, positioned at the second spot, experienced a decline in sales by 2.22 percent YoY, with 36,814 units sold in March 2023, as compared to 37,649 units sold in March 2022. Meanwhile, the TVS Apache saw a significant YoY growth of 32.02 percent, selling 36,226 units in March 2023, up from 27,439 units in the same month the previous year. The TVS Raider witnessed a remarkable YoY growth of 155.62 percent, with 31,002 units sold in March 2023, as compared to 12,128 units sold in March 2022, securing a market share of 12.88 percent.

TVS Ntorq and iQube ( year over year sales )

The TVS Ntorq observed a YoY sales growth of 14.52 percent, selling 27,284 units in March 2023. However, the highest percentage growth was recorded for the TVS iQube, which surged by 754.03 percent YoY.

The sales of iQube skyrocketed to 15,364 units in March 2023, compared to 1,799 units sold in March 2022. Remarkably, the iQube Electric has consistently recorded sales above 10,000 units for the fifth consecutive month.

TVS export Dip March 2023

In March 2023, TVS recorded a decline of 31.18 percent in exports, with only 64,591 units being shipped as opposed to 93,854 units exported in March 2022.

This translates to a volume de-growth of 29,263 units. Despite the decline, the TVS Star City 125 remained the highest exported model with 27,136 units shipped in March 2023. However, this was a decrease of 22.92 percent compared to the 35,206 units exported in March 2022. Currently, the Star City 125 holds a 42.01 percent share on this list.

TVS achieved YoY sales growth for the Sport and Pep+ models by 14.06 percent and 38.28 percent, respectively, selling 13,158 and 8,330 units in March 2023.

However, sales for the Radeon model declined by 14.39 percent to 8,186 units, while sales for the Zest decreased by 35.66 percent to 3,201 units. Similarly, Star City sales plummeted by 66.31 percent to 1,931 units, and RR310 sales saw a decline of 13.68 percent to 410 units in March 2023.