TVS Motor posts strong sales growth in September, three-wheeler segment faces decline
Oct 01, 2024
New Delhi [India], October 1 : Indian vehicle manufacturer TVS Motor Company has reported monthly sales of 482,495 units in September 2024. The company has recorded a 20 per cent yearly growth from the same period last year, when the company sold 402,553 units in the month of September 2023.
However, the three-wheeler segment of the company faces a decline in its overall sales, as reflected in the figures released by the company.
TVS Motor Company's two-wheeler segment witnessed its sales increase by 22 per cent. The company sold 471,792 units in September 2024, up from 386,955 units during the same period last year.
The company's domestic two-wheeler sales rose by 23 per cent, reaching 369,138 units in September 2024, up from 300,493 units in September 2023.
Motorcycles too registered a remarkable growth of 23 per cent, with sales rising from 186,438 units in September 2023 to 229,268 units in September 2024.
Scooter sales grew by 20 per cent, from 155,526 units last year to 186,751 units this year.
The sales of the electric vehicle segment of the company also saw a 42 per cent increase. The company sold 28,901 units in September 2024, up from 20,356 units in September 2023.
TVS's total exports for September 2024 reached 111,007 units, a growth of 11 per cent compared to 100,294 units in the previous year.
Two-wheeler exports registered a growth of 19 per cent with sales increasing from 86,462 units in September 2023 to 102,654 units in September 2024.
In contrast to the positive performance in other segments, TVS's three-wheeler sales fell to 10,703 units in September 2024, down from 15,598 units in September 2023.
For the second quarter of FY 2024-25, TVS recorded a 15 per cent growth in two-wheeler sales, with 11.90 lakh units sold compared to 10.31 lakh units in the second quarter (Q2) of the financial year (FY) 2023-24.
However, the three-wheeler segment saw a decline, with 0.38 lakh units sold, down from 0.43 lakh units last year.
Total exports for the quarter also grew by 11 per cent, with sales increasing from 2.77 lakh units in Q2 FY 2023-24 to 3.09 lakh units in the current quarter.
