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TVS Motor Sales Report For May 2023: Reports an Overall 35.88% YoY Growth

CalenderPublished at June 6, 2023 by BikeJunction
TVS Motor Sales Report For May 2023: Reports an Overall 35.88% YoY Growth

TVS Motor Company achieved remarkable year-on-year growth in two-wheeler sales, with over 30,000 pending orders for the iQube electric scooter.

The latest sales figures for May 2023, provided by TVS Motor Company, indicate a significant increase in sales compared to the previous year. The company experienced positive YoY sales growth in motorcycles, scooters, mopeds, and e-scooters. However, exports of both two-wheelers and three-wheelers suffered a decline.

In May 2023, TVS Motor Company recorded a sales growth of 9.12%, selling a total of 330,609 units (including two-wheelers and three-wheelers). This figure represents an increase from the 302,982 units sold in May 2022, reflecting volume growth of 27,627 units. Additionally, the company also achieved a 7.96% month-on-month growth compared to the 306,224 units sold in April 2023.

TVS Motor Sales May 2023

TVS Motor Company witnessed growth in its two-wheeler sales, encompassing motorcycles, scooters, mopeds, and the electric scooter iQube. In May 2023, motorcycle sales showed a notable improvement, increasing by 9.21% to reach 162,248 units, compared to the 148,560 units sold in May 2022. 

This also represented a month-on-month growth of 6.49% from the 152,365 units sold in April 2023. Currently, motorcycles hold a 50.81% market share. TVS offers a diverse range of motorcycles, including Apache, Raider, Sport, and more.

Scooter sales also experienced year-on-year growth of 2.52%, with 103,203 units sold in May 2023, a rise of 2,538 units from the 100,665 units sold in May 2022. However, there was a slight decline in month-on-month scooter sales, decreasing by 3.99% from the 107,496 units sold in April 2023. TVS offers a range of scooters, including Jupiter, Ntorq, iQube, Scooty Pep+, and others.

TVS Motor Sales

May 2023

May 2022

Difference

Growth % YoY

& Share May 2023

Motorcycle

1,62,248

1,48,560

13,688

9.21

50.81

Scooter

1,03,203

1,00,665

2,538

2.52

32.32

E-Scooter

17,953

2,637

15,316

580.81

5.62

Moped

53,844

37,833

16,011

42.32

16.86

2W Domestic

2,52,690

1,91,482

61,011

31.97

79.14

2W Exports

66,605

95,576

-28,971

-30.31

20.86

2w Total

3,19,295

2,87,058

32,237

11.23

100.00

3W Domestic

1,312

1,255

57

4.54

11.60

3W Exports

10,002

14,669

-4,667

-31.82

88.40

3W Total

11,314

15,924

-4,610

-28.95

100.00

Domestic (2+3W)

2,54,002

1,92,737

61,265

31.79

76.83

Exports (2+3W)

76,607

1,10,245

-33,638

-30.51

23.17

TOTAL (2+3W)

3,30,609

3,02,982

27,627

9.12

100.00

 

TVS Motor has experienced a significant surge in demand for its iQube e-scooter, with sales reaching 17,953 units in May 2023. This represents a remarkable growth of 580.81% compared to the 2,637 units sold in May 2022. Moreover, on a month-on-month basis, sales of the iQube improved by 188.31% from 6,227 units sold in April 2023

However, beginning June 1, 2023, the company has implemented a price increase for the TVS iQube, ranging from Rs 17,000 to Rs 22,000, depending on the variant.

Additionally, the TVS XL 100 moped also witnessed noteworthy growth with sales increasing by 42.32% year-on-year and 54.17% month-on-month, amounting to 52,844 units. These figures contributed to the overall domestic two-wheeler sales, which rose by 31.97% to 252,690 units in the last month, up from 191,482 units sold in May 2022. On a month-on-month basis, sales improved by 8.47% from 232,956 units sold in April 2023.

However, the exports of two-wheelers experienced a decline of 30.31% year-on-year, with 66,605 units shipped in May 2023, compared to the 95,576 units shipped in May 2022. On a month-on-month basis, exports showed improvement, increasing by 7.72% from 61,830 units shipped in April 2023. Overall, the total sales of two-wheelers demonstrated a growth of 11.23% year-on-year and 8.31% month-on-month, reaching 319,295 units in May 2023.
 

TVS Motor Sales

May 2023

April 2023

Difference

Growth % MoM

& Share April 2023

Motorcycle

1,62,248

1,52,365

9,883

6.49

51.69

Scooter

1,03,203

1,07,496

-4,293

-3.99

36.47

E-Scooter

17,953

6,227

11,726

188.31

2.11

Moped

53,844

34,925

18,919

54.17

11.85

2W Domestic

2,52,690

2,32,956

19,734

8.47

79.03

2W Exports

66,605

61,830

4,775

7.72

20.97

2w Total

3,19,295

2,94,786

24,509

8.31

100.00

3W Domestic

1,312

1,605

-293

-18.26

14.03

3W Exports

10,002

9,833

169

1.72

85.97

3W Total

11,314

11,438

-124

-1.08

100.00

Domestic (2+3W)

2,54,002

2,34,561

19,441

8.29

76.60

Exports (2+3W)

76,607

71,663

4,944

6.90

23.40

TOTAL (2+3W)

3,30,609

3,06,224

24,385

7.96

100.00

 

TVS Motor 3W Sales & Exports

In the three-wheeler segment, TVS Motor Company reported positive year-on-year sales in the domestic market but faced challenges in terms of exports. Domestic sales of three-wheelers reached 1,312 units in the past month, showing a 4.54% increase compared to the 1,225 units sold in May 2022. However, on an MoM basis, sales dipped by 18.26% from the 1,605 units sold in April 2023.

On the other hand, exports of three-wheelers experienced a YoY decline of 31.82%, with 10,002 units shipped in May 2023, down from the 15,669 units sold in May 2022. Month-on-month exports saw a slight increase of 1.72% from the 9,833 units shipped in April 2023. Overall, the total sales of 3-wheelers fell by 28.95% year-on-year and 18.26% month-on-month, with a total of 11,314 units sold.

But before you go, don’t forget to check out Royal Enfield Sales Report May 2023 Records a 22% Growth.

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