TVS Motor reports 22% sales growth in July 2023

TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers in India, has announced its sales performance for the month of July 2023. The company has registered a 22% growth in total sales, selling 235,833 units in July 2023 as against 193,090 units in July 2022.

The company’s domestic sales increased by 18% from 160,794 units in July 2022 to 189,647 units in July 2023. The company’s exports grew by 35% from 32,296 units in July 2022 to 46,186 units in July 2023.

| Model | Segment | July'23 | July'22 | Y-O-Y Growth (%) | July'23 | June'23 | M-O-M Growth (%) ||:--------------:|:-----------:|:-------:|:-------:|:----------------:|:-------:|:-------:|:----------------:|| Zest | Scooter | 5,889 | 4,798 | 23% | 5,889 | 5,632 | 5% || Pep+ | Scooter | 1,379 | 6,557 | -79% | 1,379 | 1,617 | -15% || Jupiter | Scooter | 64,252 | 62,851 | 2% | 64,252 | -57,698 | 11% || Raider | Motorcycle | 34,309 | 11,718 | 193% | 34,309 | 34,440 | 0% || Ntorq | Scooter | 28,077 | 22,741 | 23%% | 28,077 | 27,566 | 2% || Star City | Motorcycle | 3,071 | 6,150 | -50% | 3,071 | 4,381 | -30% || Radeon | Motorcycle | 9,759 | 9,910 | -2% | 9,759 | 10,615 | -8% || Sport | Motorcycle | 11,669 | 9,223 | 27% | 11,669 | 14,776 | -21% || iQube Electric | EV Scooter | 14,462 | 4,667 | 210% | 14,462 | 17,913 | -19% || Apache | Motorcycle | 28,127 | 16737 | 68% | 28,127 | 41,955 | -33% || RR310 | Performance | 340 | 264 | 29% | 340 | 267 | 27% || XI Super—MOPED | Moped | 34,499 | 37,474 | -8% | 34,499 | 35,837 | -4% || Total | | 235,833 | 193,090 | 22.13% | 235,833 | 137,301 | 72% |

Scooter and motorcycle segments grow

The company’s two-wheeler sales grew by 23% from 178,874 units in July 2022 to 219,528 units in July 2023. The company’s three-wheeler sales declined by 4% from 14,216 units in July 2022 to 13,605 units in July 2023.The company’s scooter sales increased by 18% from 97,323 units in July 2022 to 114,659 units in July 2023.

The company’s motorcycle sales increased by 29% from 81,551 units in July 2022 to 104,869 units in July 2023. The company’s moped sales decreased by 8% from 37,474 units in July 2022 to 34,499 units in July 2023.

Electric and performance segments shine

The company’s electric vehicle (EV) scooter sales increased by a whopping 210% from 4,667 units in July 2022 to 14,462 units in July 2023. The company’s iQube Electric scooter has been gaining popularity among customers due to its features such as smart connectivity, digital dashboard, geo-fencing, remote battery charge status, navigation assist and regenerative braking.

The company’s performance segment sales increased by 68% from 16,737 units in July 2022 to 28,127 units in July 2023. The company’s Apache series of motorcycles has been attracting customers with its racing DNA, advanced technology and superior performance. The company’s RR310 motorcycle has also witnessed a 29% growth from 264 units in July 2022 to 340 units in July 2023, owing to its premium design, aerodynamics and features such as ride-by-wire throttle, slipper clutch and dual-channel ABS.

Do give it a read on our latest sales analysis on overall 2 wheelers category, Ather, Honda 2 wheelers. Royal Enfield and Bajaj Auto, for July 2023.

New launches and innovations

The company’s motorcycle segment also saw some new launches such as the Raider and the XI Super-MOPED. The Raider is a stylish and powerful motorcycle that offers features such as LED headlamp, digital instrument cluster, USB charging port and Bluetooth connectivity. The XI Super-MOPED is a unique product that combines the features of a scooter and a moped. It offers features such as electric start, alloy wheels, disc brake and telescopic suspension.

The company has been focusing on innovation and customer satisfaction as its key drivers of growth. The company has been investing in research and development, expanding its product portfolio and strengthening its distribution network. The company has also been participating in various motorsport events such as MotoGP, Dakar Rally and Indian National Motorcycle Racing Championship to showcase its engineering excellence and racing pedigree.

Gratitude and responsibility

The company has expressed its gratitude to its customers, dealers, suppliers and employees for their continued support and trust. The company has also assured that it will continue to adhere to the safety protocols and guidelines issued by the government amid the COVID-19 pandemic. The company has also been contributing to the society through various CSR initiatives such as providing medical assistance, education support and livelihood enhancement.