TVS sales: Jupiter, XL, Ntorq, iQube and Apache YoY vs MoM in March 2023
Delhi : In March 2023, TVS Motor Company sold a total of 3,17,152 (2W and 3W) vehicles (domestic + exports). This represented a 2.99 percent increase over the 3,07,954 units sold in March 2022. Volume increased by 9,198 units year on year.
TVS sales in March 2023 versus March 2022 - YOY
Domestic two-wheeler sales were 2,40,780 units, up 22.47 percent year on year from 1,96,596 units sold in March 2022, representing a 44,184 unit volume increase. Motorcycle sales were 1,41,250 units in March 2023, a 12.01 percent decrease from the 1,60,522 units sold in March 2022.
Sales of motorcycles account for 45.93% of all sales. On the other side, scooter sales increased by 35.96% YoY to 1,28,817 units sold in March 2023 from 94,747 units sold in March 2022, resulting in a volume increase of 35,070 units. Scooters control a share of 41.88 percent.
Also, 15,364 units of the iQube, TVS' only electric model, were sold in March 2023, a 754.03% YoY increase over the 1,799 units sold in the same month last year. A further product offered by TVS is the XL100 moped, of which 37,492 units were sold last month, representing a 0.42 percent YoY decline from the 37,649 units sold in March 2022.
From 95,962 units shipped in March 2022 to 66,779 units exported in March 2023, there was a 30.41 percent YoY decline in two-wheeler exports. From a total of 2,92,918 units sold in March 2022 to 3,07,559 units sold in March 2023 as a result, two-wheeler sales as a whole increased by 5% YoY.
March 2023 TVS Motors 3W Sales
Sales of three-wheelers (domestic and export) fell from 15,036 units in March 2022 to 9,593 units in March 2023, a decline of 36.20 percent. There was a volume decline of 5,443 units. From 1,274 units sold in March 2022 with a 31.93 percent share to 1,335 units sold in March 2023, 3W domestic sales climbed by 4.79 percent. On the other hand, 3W exports decreased 39.99% to 8,258 units during the past month from 13,762 units exported over the same period last year.
Total Domestic 2+3 wheeler sales increased by 22.36 percent to 2,42,115 units in March 2023 from 1,97,870 units in March 2022. This represented a 44,245 unit volume increase with a 76.34 percent share. Exports (2+3W) fell 31.61 percent year on year to 75,037 units in March 2023, down from 1,09,724 in March 2022. This increased the company's total sales to 3,17,152 units in March 2023, up 2.99 percent from 3,07,954 units sold in March 2023.
TVS Motor's total two-wheeler sales in the fiscal year 2022-23 were 8.40 lakh units, up from 8.15 lakh units in the same period the previous year.
Sales of three-wheelers decreased from 0.42 lakh units sold in FY 2021–22 to 0.29 lakh units in FY 2022–23. In the most recent quarter, total exports decreased from the 3.15 lakh units sent in the third quarter of 2021–22 to 1.85 lakh units.
