TVS Motor Company reports 3% jump in its total vehicle sales in June

TVS Motor Company on Monday reported a three per cent jump in its total sales to 316,411 units in June from 308,501 units in the same month last year. The exports, however, fell over 30 per cent to 79,144 units from 114,449 units in June 2022.

The total two-wheelers registered a growth of four per cent with sales increasing to 304,401 units from 293,715 units in June 2022. Domestic two-wheelers registered a growth of 22 per cent with sales increasing from 193,090 units in June 2022 to 235,833 units in June 2023.

The motorcycle segment registered a growth of two per cent with sales increasing to 148,208 units from 146,075 units in June 2022. The scooter sales registered a higher growth of 11 per cent from 109,878 units in the month last year to 121,364 units in June this year.

The sale of its electric scooter, TVS iQube Electric, recorded a 209 per cent jump to 14,462 units in June 2023 as against sales of 4,667 units in the same month last year.

"The first two weeks of June witnessed a decline in EV two-wheeler industry sales due to readjustment in prices owing to the reduction in FAME-II subsidy. However, TVS iQube's order book remains very healthy. We are already seeing a pick up in sales and are confident of continued improvement in the coming months," the company said in a statement.

The three-wheeler sales saw a fall to 12,010 units in June 2023 as against 14,786 units this month last year.

In the quarter that ended on June 30, two-wheeler sales grew by seven per cent to 918,000 units from 860,000 units last year. The three-wheeler segment registered a sale of 35,000 units against 46,000 units in the first quarter of 2022-23.