TVS Motor Company Records Sales Surge In July 2024

Published: Friday, August 2, 2024, 15:15 [IST]

TVS Motor Company's sales report for July 2024 shows growth across various vehicle categories. Motorcycle sales reached 161,074 units, a 4.63 per cent increase from 153,942 units in July 2023. This segment captured 47.42 per cent of TVS' total sales for the month.

Scooter sales demonstrated significant year-over-year growth of 1481 per cent, with 139,995 units sold in July 2024 compared to 121,941 units in July 2023. This segment contributed to 41.21 per cent of total TVS sales for the month, indicating strong consumer demand and market penetration.

Electric Scooters Gain Popularity

E-scooter sales surged by 61.15 per cent, with 21,442 units sold in July 2024, up from 13,306 units in July 2023. E-scooters contributed to 6.31 per cent of TVS' total sales in July 2024, reflecting the growing popularity of electric vehicles.

Moped sales in July 2024 were at 38,607 units, marking a 5.99 per cent increase from the previous year's figure of 36,424 units. Despite a slight decline from June's sales of 40,481 units, mopeds accounted for 11.37 per cent of TVS' total sales for the month.

Domestic Two-Wheeler Sales Growth

Domestic two-wheeler sales in July 2024 reached 254,250 units, an increase of 8.09 per cent from the previous year's figure of 235,230 units. However, there was a slight month-over-month decline of 0.58 per cent from June's total of 255,734 units.

In the export market, two-wheeler sales for July stood at 85,426 units, marking a growth rate of 10.83 per cent compared to the previous year's figure of 77,077 units. Exports accounted for a substantial portion—25.15 per cent—of TVS' total two-wheeler sales.

Three-Wheeler Sales Performance

Total three-wheeler domestic sales in July were recorded at 2,301 units—a significant increase of 50.00 per cent from last year's figure of 1,534 units. Exports remained relatively stable with a slight year-over-year increase to reach a total of 12,163 units sold.

The combined three-wheeler sales for July amounted to a total of 14,464 units—an overall growth rate of approximately 5.81 per cent compared to last year's figure of 13,670 units.

Overall Market Performance

Total two-wheeler sales for July reached an impressive figure of 339,676 units—an increase of about 8.76 per cent from last year's number of around 312,307 units.

The combined sales figures for both two-wheelers and three-wheelers reached a total of 354,140 units in July—a notable increase of 8.64 per cent compared to last year's figure of 325,977 units.