TVS Motors sells 2.76 lakh auto units in Feb'23

TVS Motor Company said that it has registered sales of 276,150 units in the month of February 2023 as against 281,714 units in the month of February 2022, recording a degrowth of 2% on YoY basis.

Total two-wheelers registered sales of 267,026 units in the month of February 2023 as against 267,625 units in the month of February 2022. Domestic two-wheeler recorded growth of 28% YoY, with sales aggregating to 221,402 units in February 2023.

The electric scooters recorded its highest ever sales of 15,522 units in February 2023 as against sales of 2,238 units in February 2022.

Three-wheeler sales of the company declined by 35% to 9,124 units in February 2023 from 14,089 units in February 2022.

Total exports stood at 53,405 units in February 2023 as against 107,574 units February 2022, down 50% YoY.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The company reported 22% rise in standalone net profit to Rs 353 crore on a 15% increase in revenue to Rs 6,545 crore in Q3 FY23 over Q3 FY22.

The scrip was down 0.02% to currently trade at Rs 1062.60 on the BSE.

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