TVS Motor Company sales grows by 22% yoy in June 2022; Stock plunges 3.4%

4 Jul 2022 , 09:44 AM

TVS Motor Company has registered a growth of 22% in June 2022 with sales of 308,501 units as against 251,886 units in the month of June 2021.

Two-Wheeler Total two-wheelers registered a growth of 23% in June 2022 with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022. Domestic two-wheeler registered growth of 33% with sales increasing from 145,413 units in June 2021 to 193,090 units in June 2022.

Further, Motorcycle registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021. Scooter sales of the Company grew from 53,956 units in June 2021 to 105,211 units in June 2022, informed the company.

“The shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. We are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels as semiconductor supplies continue to improve”, the company said in a regulatory filing.

International Business
The Company’s total exports grew by 8% from 106,246 units in June 2021 to 114,449 units in June 2022. Two-wheeler exports grew by 9% from 92,679 units in June 2021 to 100,625 units in June 2022.

Three-Wheeler
Three-wheeler sales of the Company grew by 7% from 13,794 units in June 2021 to 14,786 units in June 2022.

Electric Vehicle
The domestic two-wheeler sales include TVS iQube Electric sales of 4,667 units in June 2022. This is the highest ever sales of TVS iQube Electric and the sales grew by 77% over May 2022.

First Quarter Sales Performance
During the first quarter of the current financial year, two-wheeler sales grew by 39% increasing from 6.2 lakh units in the first quarter FY 21-22 to 8.6 lakh units in the current quarter. Three-wheeler of the Company registered a growth of 18% increasing from 0.39 lakh units in the first quarter of FY 21-22.to 0.46 lakh units in the first quarter of the current year.

At around 9:45 AM, TVS Motor Company was trading at Rs834.25 per share down by Rs29.35 or 3.4% on the BSE.