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TVS Sales in January 2024 Records 12.46% MoM & 23.41% YoY Growth

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Gargi
Gargi
|Updated on:07-Feb-2024 07:07 AM

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ByGargi

Updated on:07-Feb-2024 07:07 AM

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Explore the January 2024 TVS sales records, boasting a significant 12.46% month-on-month growth and an impressive 23.41% year-on-year growth.

TVS Sales in January 2024 Records 12.46% MoM  & 23.41% YoY Growth

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Key Highlights

  • TVS Motor showcased significant growth in both year-on-year (YoY) and month-on-month (MoM) 
  • Total sales for both two-wheelers and three-wheelers experienced a strong YoY growth of 23.41%, amounting to 3,39,513 units.

TVS Motor exhibited robust sales performance in January 2024, with significant growth in both year-on-year (YoY) and month-on-month (MoM) metrics. Total sales of (2+3 wheeler) (domestic + exports) recorded a notable YoY growth of 23.41%, totaling 3,39,513 units. Additionally, MoM sales witnessed a substantial increase of 12.46%.

TVS Motor YoY Sales

TVS 

2 Wheelers

Jan-24 

Jan-23

Difference

Growth % YoY

Motorcycle

1,55,611

1,21,042

34,569

28.56

Scooter

1,32,290

1,06,537

25,753

24.17

E-scooter

16,276

12,169

4,107

33.75

Moped

42,036

37,131

4,905

13.21

2W Domestic

1,68,233

2,16,471

51,762

23.91

2W Export

61,704

48,239

13,465

27.91

2W Total

3,29,937

2,64,710

65,227

24.64

TVS 

3 Wheelers

Jan-24 

Jan-23

Difference

Growth % YoY

Domestic

1,937

1,620

317

19.57

Export

7,639

8,785

-1,146

-13.04

3W Total

9,576

10,405

-829

-7.97

TVS 

2+3 Wheelers

Jan-24 

Jan-23

Difference

Growth % YoY

Domestic (2+3W)

2,70,170

2,18,091

52,079

23.88

Export

(2+3W)

69,343

57,024

12,319

21.60

Total (2+3W)

3,39,513

2,75,115

64,398

23.41

In January 2024, TVS Motor Company demonstrated strong year-on-year (YoY) sales growth, particularly in the two-wheeler segment.

Two Wheeler Segment

Motorcycle Sales: Year-on-Year Growth for motorcycle sales was impressive at 28.56%, reflecting a volume increase of 34,569 units. TVS Apache and Raider stood out as popular models contributing to a market share of 47.16%.
Scooter Sales: Scooter sales witnessed a substantial YoY growth of 24.17%, with a volume increase of 25,753 units. TVS Jupiter and Ntorq emerged as favored models, capturing a market share of 40.10%.
E-scooter Sales: The e-scooter segment experienced a remarkable YoY growth of 33.75%, representing a volume increase of 4,107 units. The iQube model contributed significantly to this growth.
Moped Sales: Moped sales grew by 13.21% YoY, representing a volume increase of 4,905 units.

Three Wheeler Segment

Domestic Sales: Domestic three-wheeler sales grew by 19.57% YoY, reflecting a volume increase of 317 units.
Export Sales: However, export sales for three-wheelers experienced a YoY decrease of -13.04%, representing a volume decrease of -1,146 units.

Total (2+3) Wheeler Sales

Domestic Sales: Total domestic sales for both two-wheelers and three-wheelers grew by 23.88% YoY, reaching a total of 2,70,170 units.
Export Sales: Export sales also showed a positive YoY growth of 21.60%, totaling 69,343 units.
Total Sales: Overall, total sales for both two-wheelers and three-wheelers experienced a strong YoY growth of 23.41%, amounting to 3,39,513 units.

TVS Sales in January 2024 Records 12.46% MoM  & 23.41% YoY Growth
TVS Segment-wise Sales in January 2024

TVS Motor MoM Sales

TVS 

2 Wheelers

Jan-24 

Dec-24

Difference

Growth % MoM

Motorcycle

1,55,611

1,48,049

7,562

5.11

Scooter 

1,32,290

1,03,167

29,123

28.23

E-scooter

16,276

11,232

5,044

44.91

Moped

42,036

38,848

3,188

8.21

2W Domestic

2,68,233

2,14,988

53,245

24.77

2W Exports

61,704

75,076

-13,372

-17.81

2W Total

3,29,937

2,90,064

39,873

13.75

TVS 

3 Wheelers

Jan-24 

Dec-24

Difference

Growth % MoM

3W Domestic

1,937

1,519

418

27.52

3W Export

7,639

10,315

-2,676

-25.94

3W Total 

9,576

11,834

-2,258

-19.08

TVS 

2+3 Wheelers

Jan-24 

Dec-24

Difference

Growth % MoM

Domestic (2+3W)

1,937

1,519

418

27.52

Export 

(2+3W)

7,639

10,315

-2,676

-25.94

Total (2+3W)

9,576

11,834

-2,258

-19.08

In January 2024, TVS Motor Company experienced a notable increase in sales compared to December 2023, with total sales (2+3W) (domestic + exports) growing by 12.46%. While domestic sales showed a significant improvement, exports witnessed a decline. 

Two Wheeler Segment

Motorcycle Sales: MoM growth of 5.11% was observed, with a total of 1,55,611 units sold. This reflects a moderate increase in motorcycle sales compared to the previous month.
Scooter Sales: The company witnessed a substantial MoM growth of 28.23%, selling a total of 1,32,290 units. This indicates a notable surge in consumer demand for TVS scooters in January.
E-scooter Sales: TVS saw a significant MoM growth of 44.91%, selling a total of 16,276 units. This reflects a positive response from consumers towards TVS' electric mobility offerings.
Moped Sales: MoM growth of 8.21% was recorded, with a total of 42,036 units sold. This indicates a moderate increase in moped sales compared to the previous month.

Three Wheeler Segment

Domestic Sales: The company experienced a substantial MoM growth of 27.52%, selling a total of 1,937 units domestically. This suggests an improved market demand for TVS' three-wheelers in January.
Export Sales: However, export sales witnessed a significant MoM decline of -25.94%, with a total of 7,639 units sold. This poses a challenge for TVS in the international market.

Combined Sales (2+3W)

Domestic Sales: TVS recorded a strong MoM growth of 24.79% in total domestic sales, selling a combined total of 1,937 units. This growth was primarily driven by improvements in both two-wheeler and three-wheeler segments domestically.
Export Sales: Despite the decline in export sales, TVS managed to maintain a positive overall MoM growth in combined sales, with a total of 7,639 units exported. This indicates resilience in the face of export challenges.

CarBike360 Says

TVS Motor Company's sales performance in January 2024 reflects strong momentum, driven by robust demand for motorcycles, scooters, and e-scooters. The company's strategic product portfolio and effective market positioning have contributed to its overall growth, both YoY and MoM, in the domestic and export markets.


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