TVS Motor Company April sales jump 24% YoY

2 May 2022 , 03:01 PM

The total two-wheelers registered a sales of 2,80,022 units in April 2022 as against sales of 2,26,193 units in April 2021, recording a rise of 24% Y-o-Y. Domestic two-wheeler sales grew by 37% to 1,80,533 units in April 2022 as compared to 1,31,386 units in April 2021.

Motorcycle sales grew 4% increasing to 1,39,027 units in April 2022 from 1,33,227 units in April 2021. Scooter sales of the company registered 1,02,209 units in April 2022 as against a sale of 65,213 units in April 2021, increasing 57% year on year.

However, the shortage in the supply of semiconductors had impacted the production and sales of premium two-wheelers. Just as we had done last year, we are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Our new products have been well received by the customers and we are optimistic that volumes will revive once the semiconductor supplies improve, the company stated.

Overseas, the companys total exports grew 6% to 1,13,427 units in April 2022 from 1,07,185 units in the month of April 2021. Two-wheeler exports rose 5% to 99,489 units in April 2022 from 94,807 units in April 2021.

In the three-wheeler segment, the sales of the company grew 20% to 15,286 units in April 2022 from 12,790 units in April 2021.

In Electric Vehicle (EV) segment, the domestic two-wheeler sales include TVS iQube Electric sales of 1,420 units in April 2022 as against 307 units sold in April 2021.

TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer. The company had recorded 18.3% decrease in consolidated net profit to Rs 236.56 crore on a 8.2% rise in net sales to Rs 6,597.35 crore in Q3 FY22 over Q3 FY21.

Shares of TVS Motor Company shed 1.23% to currently trade at Rs 647.05 on BSE.

Powered by Capital Market – Live News