TVS March Sales Report Reveals a Total YoY Growth of 2.99%

Published at April 3, 2023 by BikeJunction

TVS March Sales Report Reveals a Total YoY Growth of 2.99%

TVS Motor Company reported total sales, including domestic and export sales, at 3,17,152 for Mar 2023. The company saw a YoY growth of 2.99% from 3,07,954 units in Mar 2023 and a YoY of volume growth of 9,198 units as compared to the previous year.

TVS 2-Wheeler domestic sales accounted for a 22.47% YoY, with 2,40,780 units this year, as compared to 1,96,596 units sold last year. Therefore, registering a rise of 44,184 unit sales volume this year. Out of the total sales figures, bike sales declined by 12.01%, with 1,41,250 units sold on March ‘23, as compared to 1,60,522 units sold on March ‘22.

TVS Motor Sales	March 2023	March 2022	Difference	Growth % YoY	% Share March 2023
Motorcycle	1,41,250	1,60,522	-19,272	-12.01	45.93
Scooter	1,28,817	94,747	34,070	35.96	41.88
E-Scooter	15,364	1,799	13,565	754.03	5.00
Moped	37,492	37,649	-157	-0.42	12.19
2W Domestic	2,40,780	1,96,596	44,184	22.47	78.29
2W Exports	66,779	95,962	-29,183	-30.41	21.71
2W Total	3,07,559	2,92,918	14,641	5.00	100.00
3W Domestic	1,335	1,274	61	4.79	13.92
3W Exports	8,258	13,762	-5,504	-39.99	86.08
3W Total	9,593	15,036	-5,443	-36.20	100.00
Domestic (2+3W)	2,42,115	1,97,870	44,245	22.36	76.34
Export (2+3W)	75,037	1,09,724	-34,687	-31.61	23.66
Total (2+3W)	3,17,152	3,07,954	9,198	2.99	100.00

A total of 45.93% of sales accounted for motorbike sales. The sales of scooters, on the other hand, climbed by 35.96% YoY to 1,28,817 units in March 2023 from 94,747 units in March 2022, representing a volume increase of 35,070 units. Scooters hold a 41.88% majority.

Meanwhile, the iQube, TVS' sole electric model, sold 15,364 units in March 2023, an increase of 754.03% YoY from the 1,799 units sold in the same month last year. The XL100 moped is another product that TVS sell. This month, 37,492 units of this moped were sold, which represents a 0.42% YoY decrease from the 37,649 units sold in March 2022.

There was a 30.41% YoY fall in two-wheeler exports from 66,779 units exported in March 2023 to 95,962 units shipped in March 2022. Hence, the total number of two-wheeler sales grew by 5% YoY from 2,92,918 units in March 2022 to 3,07,559 units in March 2023.

TVS Motor Sales	March 2023	March 2022	Difference	Growth % YoY	% Share March 2023
Motorcycle	1,41,250	1,26,243	15,007	11.89	47.28
Scooter	1,28,817	1,04,825	23,992	22.89	39.26
E-Scooter	15,364	15,522	-158	-1.02	5.81
Moped	37,492	35,958	1,534	4.27	13.47
2W Domestic	2,40,780	2,21,402	19,378	8.75	82.91
2W Exports	66,779	45,624	21,155	46.37	17.09
2W Total	3,07,559	2,67,026	40,533	15.18	100.00
3W Domestic	1,335	1,343	-8	-0.60	14.72
3W Exports	8,258	7,781	477	6.13	85.28
3W Total	9,593	9.,124	469	5.14	100.00
Domestic (2+3W)	2,42,115	2,22,745	19,370	8.70	80.66
Export (2+3W)	75,037	53,405	21,632	40.51	19.34
Total (2+3W)	3,17,152	2,76,150	41,002	14.85	100.00

TVS Motors Total (2+3W) Sales March 2023

Total domestic 2+3 wheeler sales increased from 1,97,870 units sold in March 2022 to 2,42,115 units sold in March 2023, a 22.36% increase. This represented a volume rise of 44,245 units and a share of 76.34%. From 1,09,724 units sold in March 2022 to 75,037 units sold in March 2023, exports (2+3W) decreased by 31.61% YoY. This increased the company's overall sales in March 2023 from 3,07,954 units sold in March 2023 to 3,17,152 units, an increase of 2.99%.

TVS Motor's total two-wheeler sales for the fiscal year 2022–2023 were 8.40 lakh units, up from 8.15 lakh units during the same 2021–2022 period. From 0.42 lakh units sold in FY 2021–2022 to 0.29 lakh units sold in FY 2022–2023, three-wheeler sales fell from 3.15 lakh units exported in the third quarter of 2021–22 to 1.85 lakh units in the most recent quarter.

Did you know TVS is about to launch a range of more powerful e-scooter with new motor soon? Read about it to know more!

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