TVS Motor’s Overall Sales hit 33% YoY Growth in February 2024

TVS Motor's February 2024 Sales Soar with 33% Year-over-Year Growth, Reflecting Market Dominance and Strategic Expansion Efforts.

By Gargi Khatri

9.48k

Mar 04, 2024 12:50 pm IST

TVS February Sales Report

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)
Motorcycles	1,84,023	1,26,243	57,780	45.77
Scooter	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.

Pie Chart TVS Segment-wise Sales in February

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