TVS Motors' April sales up y-o-y by 25%

2 May 2024 , 11:54 AM

TVS Motor, known for manufacturing two-wheeler and three-wheeler vehicles, announced a significant 25% growth in sales for the month of April, selling a total of 3,83,615 units, compared to 3,06,224 units sold in the corresponding period of the previous year.

At the time of writing, the stocks were trading at ₹1028.55 which is a 2.05% gain than the previous close. The stock has gained 114.17% in the last one year and 30.10% since the beginning of the year.

The surge in sales was primarily driven by a robust performance in the two-wheeler segment, which witnessed a remarkable 27% increase in sales for April 2024, reaching a total of 3,74,592 units, compared to 2,94,786 units sold in April 2023.

Notably, the domestic market played a pivotal role in this growth trajectory, with domestic two-wheeler sales soaring by 29% to 3,01,449 units in April 2024, as opposed to 2,32,956 units in April 2023.

Motorcycle sales contributed significantly to this upward trend, recording a substantial 24% growth with 1,88,110 units sold in April 2024, compared to 1,52,365 units in April 2023.

Scooter sales also witnessed an impressive surge, escalating by 34% to 1,44,126 units in April 2024, from 1,07,496 units in April 2023.

However, amidst the overall growth, three-wheeler sales experienced a decline, dropping to 9,023 units in April 2024, compared to 11,438 units in April 2023.

In the electric vehicle (EV) segment, TVS Motor witnessed a remarkable surge in sales, with figures jumping to 17,403 units in April 2024, a stark increase from the 6,227 units sold in the same month last year. This surge was attributed to the implementation of the new Electric Mobility Promotion Scheme (EMPS) 2024, following the conclusion of FAME II in March 2024.

On the international front, TVS Motor reported a commendable growth in exports, with total exports witnessing a 12% increase to 80,508 units in April 2024, compared to 71,663 units shipped in April 2023.

Specifically, two-wheeler exports saw a notable rise of 18% to 73,143 units in April 2024, compared to 61,830 units in April 2023, reflecting the company’s growing presence in global markets.

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