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TVS Motor’s Overall Sales hit 33% YoY Growth in February 2024
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Updated on:04-Mar-2024 12:24 PM
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TVS Motor's February 2024 Sales Soar with 33% Year-over-Year Growth, Reflecting Market Dominance and Strategic Expansion Efforts.
TVS Motor, India’s prominent manufacturer of two-wheelers (2W) and three-wheelers (3W), has continued its trend of growth, both domestically and internationally. In February 2024, the company achieved remarkable sales figures, reflecting its strategic expansion efforts and product innovation. The following analysis delves into the YoY (Year-over-Year) and MoM (Month-over-Month) sales performance of TVS Motor, providing insights into its key segments.
Year-over-Year (YoY) Sales Analysis:
TVS Motor | Feb’24 | Feb’23 | Difference | Growth% (YoY) |
1,84,023 | 1,26,243 | 57,780 | 45.77 | |
1,32,152 | 1,04,825 | 27,327 | 26.07 | |
E-scooter | 17,959 | 15,522 | 2,437 | 15.70 |
Moped | 41,635 | 35,958 | 5,677 | 15.79 |
2W Domestic | 2,67,502 | 2,21,402 | 46,100 | 20.82 |
2W Exports | 90,308 | 45,624 | 44,684 | 97.94 |
2W Total | 3,57,810 | 2,67,026 | 90,784 | 34 |
TVS Motor | Feb’24 | Feb’23 | Difference | Growth% (YoY) |
3W Domestic | 2,066 | 1,343 | 723 | 53.83 |
3W Exports | 8,548 | 7,781 | 767 | 9.86 |
3W Total | 10,614 | 9,124 | 1,490 | 16.33 |
TVS Motor | Feb’24 | Jan’24 | Difference | Growth% MoM |
Domestic (2+3) | 2,69,568 | 2,70,170 | -602 | -0.22 |
Export (2+3W) | 98,856 | 69,343 | 29,513 | 42.56 |
Total (2+3W) | 3,68,424 | 3,39,513 | 28,911 | 8.52 |
Motorcycles: Motorcycles emerged as the highest-selling category for TVS Motor in February 2024, witnessing a remarkable YoY growth of 45.77%. Sales surged to 1,84,023 units compared to 1,26,243 units in February 2023, indicating robust consumer demand and effective market strategies.
Scooters and E-Scooters: The scooter segment experienced significant YoY growth, with sales reaching 1,32,152 units, marking a substantial increase of 26.07% compared to the previous year. TVS Motor's venture into the electric scooter market also yielded positive results, with 17,959 units sold, reflecting a YoY growth of 15.70%.
Mopeds: TVS Motor maintained its dominance in the moped segment, recording a YoY growth of 15.79%. Sales figures reached 41,635 units, indicating sustained demand for this category despite market fluctuations.
Domestic and Export Sales: Domestic sales (2W+3W) demonstrated a commendable YoY growth of 21.03%, with total sales reaching 2,69,568 units. The export segment witnessed a remarkable YoY growth of 85.11%, highlighting TVS Motor's successful expansion into international markets.
Overall YoY Performance: In total, TVS Motor sold close to 3.67 lakh vehicles in February 2024, marking a substantial YoY growth of 33.41%. This overall performance underscores the company's effective market strategies and strong customer appeal across various segments.
Month-over-Month (MoM) Sales Analysis:
TVS Motor | Feb’24 | Jan’24 | Difference | Growth% MoM |
Motorcycle | 1,84,023 | 1,55,611 | 28,412 | 18.26 |
Scooter | 1,32,152 | 1,32,290 | -138 | -0.10 |
E-Scooter | 17,959 | 16,276 | 1,683 | 10.34 |
Moped | 41,635 | 42,036 | -401 | -0.95 |
2W Domestic | 2,67,502 | 2,68,233 | -731 | -0.27 |
2W Exports | 90,308 | 61,704 | 28,604 | 46.36 |
2W Total | 3,57,810 | 3,29,937 | 27,873 | 8.45 |
TVS Motor | Feb’24 | Jan’24 | Difference | Growth% MoM |
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