TVS Motor Records 23% Surge in January Vehicle Sales, Electric Segment Soars 34%

2 Feb 2024 , 11:06 AM

TVS Motor reported a 23% increase in vehicle sales for January, reaching 339,513 units. Compared to January of the previous year, this marked a significant rise from 275,115 units.

Two-wheeler sales specifically saw a 25% growth, climbing from 264,710 units in January 2023 to 329,937 units in January 2024.

Domestic sales within this category spiked by 24%, reaching 268,233 units for the month. Motorcycle sales, a subset of the two-wheeler segment, surged by 29% to 155,611 units from 121,042 units in January last year. Scooter sales also experienced a notable increase, rising by 24% from 106,537 units in January 2023 to 132,290 units in January 2024.

The company observed a 34% year-on-year growth in electric vehicle sales for January, totaling 16,276 units.

Total exports for TVS Motor grew by 22%, with two-wheeler exports specifically increasing by 28% to 61,704 units in January 2024.

Container availability constraints partially impacted dispatches during this period.

Three-wheeler sales for the company stood at 9,576 units for January, a slight decrease from 10,405 units recorded in January 2023.

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