Festive cheer drives up TVS, Bajaj sales: Two-wheeler boom, export boost

In a year-end spectacle, TVS Motor Company rode a wave of festive cheer to record a 25 per cent growth in December 2023 sales compared to the same period last year, selling a total of 301,898 units as compared to December 2022, where they clocked 242,012 units. The company's two-wheeler segment saw a 27 per cent growth, reaching 290,064 units in December 2023 from 227,666 units in the same month of the previous year.

Similarly, Bajaj Auto reported that the domestic two-wheeler segment witnessed a 26 per cent growth, with sales climbing to 158,370 units in December 2023 from 125,553 units in December 2022.

TVS Motor two-wheeler exports saw a 13 per cent growth, with sales increasing from 66,297 units in December 2022 to 75,076 units in December 2023. Whereas Bajaj exports increased 3 per cent, with 124,631 units in December 2023 from 121,499 units in December 2022.

Bajaj Auto commercial vehicles segment also experienced an increase, with domestic sales growing by 27 per cent, reaching 43,805 units in December 2023 from 34,462 units in the same month of the previous year. The exports for commercial vehicles, however, faced a marginal decline of 2 per cent.
 

Combining the domestic and export figures for both two-wheelers and commercial vehicles, Bajaj Auto achieved a 16 per cent growth in total sales, recording 326,806 units in December 2023 compared to 281,514 units in December 2022.

In the electric vehicle market, TVS Motor Company sold 11,232 units in December 2023, a slight increase from 11,071 units in December 2022. Moreover, the company's two-wheeler sales for EVs in the third quarter of the financial year 2023-24 surged by 65 per cent. In contrast, TVS Motor Company's three-wheeler segment faced a downturn, with sales dropping to 11,834 units in December 2023 from 14,346 units in December 2022.