TVS Motor Company's Sales Rise By 5% In June 2024 Amidst Export Challenges

Published: Monday, July 1, 2024, 17:55 [IST]

TVS Motor Company reported a 5% increase in monthly sales for June 2024, with 333,646 units sold compared to 316,411 units in June 2023. The growth was driven by a 6% rise in total two-wheeler sales, which reached 322,168 units in June 2024 from 304,401 units the previous year. Domestic two-wheeler sales also grew by 8%, with 255,734 units sold in June 2024 compared to 235,833 units in June 2023.

Motorcycle and Scooter Sales

Motorcycle sales experienced a modest growth of 3%, increasing from 148,208 units in June 2023 to 152,701 units in June 2024. Meanwhile, scooter sales saw a more significant increase of 6%, with sales rising from 121,364 units in June 2023 to 128,986 units in June 2024.

Electric Vehicle Sales

In the electric vehicle (EV) segment, TVS Motor Company registered a growth of 10%, with sales increasing from 14,462 units in June 2023 to 15,859 units in June 2024.

International Business and Export Challenges

The company's total exports experienced a slight decline in sales, registering at 76,074 units in June 2024 compared to 79,144 units in June 2023. Two-wheeler exports also decreased slightly from 68,568 units in July 2023 to 66,434 units in June 2024. Despite robust customer retails, challenges related to container availability due to prevailing conditions in the Red Sea have impacted export figures.

Three-Wheeler Sales

Three-wheeler sales registered at 11,478 units in June 2024 compared to 12,010 units during the same period last year.

First Quarter Sales Performance FY 2023-24

During the first quarter of the financial year (FY) 2024-25, TVS Motor Company's two-wheeler segment grew by 15%, with sales increasing from 9.18 lakh units during the first quarter of FY 2023-24 to 10.56 lakh units during the current quarter.

Three-wheeler sales reached 0.31 lakh units during the first quarter of FY 2024-25 compared to 0.35 lakh units during the same period last year. Total exports experienced a growth of 12%, with sales rising from 2.27 lakh units during the first quarter of FY 2023-24 to 2.54 lakh units during the current quarter.

TVS Motor Company has experienced overall growth across various segments despite challenges faced by its international business and export operations due to container availability issues.