TVS Motor sales up 12% in May 2024

3 Jun 2024 , 10:05 AM

TVS Motor Company achieved a 12% sales increase in May 2024, selling 369,914 units compared to 330,609 units in May 2023. Two-wheeler sales grew 13%, reaching 3.59 lakh units in May 2024, up from 3.19 lakh units in May 2023.  

Domestic two-wheeler sales rose by 7% to 2.71 lakh units from 2.52 lakh units. Motorcycle sales increased by 7%, with 1.73 lakh units sold compared to 1.62 lakh units last year.

Scooter sales surged 20%, with 1.45 lakh units sold in May 2024, up from 1.21 lakh units in May 2023. Electric vehicle sales grew 4%, reaching 18,674 units from 17,953 units in May 2023.

Exports jumped 27%, with 96,966 units shipped in May 2024 compared to 76,607 units last year. Two-wheeler exports saw a 33% increase, totaling 88,450 units from 66,605 units. Three-wheeler sales declined to 10,324 units from 11,314 units in May 2023.

TVS Motor recently launched a new variant of the iQube electric scooter and plans to release its first electric three-wheeler (E3W) this fiscal year. The premium crossover electric two-wheeler, TVS X, will also be launched soon.

In Q4 of FY24, TVS Motor’s net profit increased by 18% to ₹485 Crore, with a 24% rise in revenue to ₹8,169 Crore, driven by strong sales, a healthy product mix, better pricing, and lower commodity costs.

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