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TVS Motor Company Reports Record Sales Of 4.82 Lakh Units With 20% Growth In September 2024
In September 2024, TVS Motor Company observed a significant increase in its sales performance, reporting a 20% growth with a total of 482,495 units sold. This marked a notable rise from the 402,553 units sold in September 2023, showcasing the company's upward trajectory in the automotive market.
The two-wheeler segment experienced a robust 22% growth, with sales soaring from 386,955 units in the previous year to 471,792 units in September 2024. The domestic market for two-wheelers was particularly strong, witnessing a 23% increase. Sales jumped from 300,493 units in September 2023 to 369,138 units in the same month in 2024.
In the two-wheeler category, motorcycles led with a 23% growth, as their sales rose from 186,438 units to 229,268 units year-over-year. Scooters also saw a healthy increase in demand, with sales growing by 20%, from 155,526 units in September 2023 to 186,751 units in September 2024.
Rapid Growth in Electric Vehicles
The electric vehicle (EV) sector of TVS Motor Company registered an impressive 42% growth, with sales climbing from 20,356 units in September 2023 to 28,901 units in September 2024. This surge points to a growing consumer interest in sustainable and eco-friendly transportation options.
The company's international business wasn't far behind in contributing to its success. Total exports grew by 11%, with sales increasing from 100,294 units in September 2023 to 111,007 units in September 2024. Two-wheeler exports saw a significant 19% growth during this period, from 86,462 units to 102,654 units.
Quarterly Performance and Three-Wheeler Sales
However, the three-wheeler segment faced a downturn, with sales dropping to 10,703 units in September 2024 from 15,598 units in the same month the previous year.
Looking at the quarterly performance for the financial year 2024-25, the company's two-wheeler segment recorded a 15% growth, with sales moving up from 10.31 lakh units in the second quarter of the previous financial year to 11.90 lakh units.
The three-wheeler segment saw sales of 0.38 lakh units, a slight decrease from 0.43 lakh units in the comparative period. Total exports during the quarter rose by 11%, from 2.77 lakh units to 3.09 lakh units, further solidifying TVS Motor Company's standing in international markets.
The growth in sales across most segments, particularly in two-wheelers and electric vehicles, highlights TVS Motor Company's strong position in the market and its ability to adapt to changing consumer preferences. As the company continues to expand its product range and reach, these sales figures reflect its commitment to innovation and customer satisfaction.
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