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TVS XL100 Continues To Drive Two-Wheeler Sales In India
The TVS XL100 moped remains crucial to TVS Motor Co's two-wheeler sales, with 1,350 units sold daily from April to June 2024. This model accounts for 15% of the company's total sales.
Its affordability, fuel efficiency, and reliability make it a favourite among small traders in rural India. The XL100 is available in five variants, priced between Rs 44,999 and Rs 60,905.
Despite its consistent performance, the demand for mopeds has decreased compared to 15 years ago. In FY2010, mopeds made up 41% of TVS' two-wheeler sales, surpassing motorcycles and scooters.
However, by FY2024, scooters dominated 46% of sales, while motorcycles and mopeds accounted for 39% and 15%, respectively. This shift reflects changing consumer preferences towards scooters and motorcycles.
Changing Market Dynamics
The decline in moped sales began in FY2017 as gearless scooters and rider-friendly bikes gained popularity. The introduction of BS VI emission standards in April 2020 further impacted sales due to increased prices.
The COVID-19 pandemic exacerbated this decline, causing a sharp drop in FY2020 and FY2021. However, there has been a slight recovery in FY2024 and Q1 FY2025.
The TVS XL100 stands out as the last remaining moped model after others like the Hero Puch and Suvega were discontinued. Although the electric Kinetic e-Luna was launched in February 2024, it is significantly more expensive than the TVS XL100. There is no confirmation yet on whether TVS will introduce an electric moped.
Future Prospects
TVS has trademarked two names with the 'XL' moniker, suggesting the possibility of a new battery-powered XL moped. However, no additional information is available at this time. Given the success of its first electric scooter, the iQube, TVS may expand its electric vehicle portfolio.
In conclusion, while mopeds have seen a decline in popularity over the years due to various factors including market shifts and regulatory changes, the TVS XL100 continues to be a reliable choice for many consumers. Its enduring presence in the market highlights its value proposition despite evolving consumer preferences.
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