TVS Motor Company has recorded monthly sales of 333,646 units in June 2024 with a growth of 5% as against 316,411 units in the month of June 2023.
The companys two-wheeler division registered a growth of 6%, with sales increasing from 304,401 units in June 2023 to 322,168 units in June 2024. Domestic two-wheeler sales for the period under review added up to 255,734 units, up 8% YoY.
While motorcycle sales rose by 3% YoY to 152,701 units, scooter sales increased by 6% YoY to 128,986 units in June 2024.
EV sales registered a growth of 10% with sales increasing from 14,462 units in June 2023 to 15,859 units in June 2024.
Three-wheeler sales fell by 4% to 11,478 units in June 2024 as against 12,010 units sold in June 2023.
Also Read
 "pharmacy, drugs, medicine, pharma companies, pharmaceuticals, vaccine, coronavirus, covid, testing")
 "US Defence Secretary Lloyd Austin")
 "Stock Market Investment")
 "TCS, Tata Consultancy Services")
 "BSE, NSE, Indian share market, Stock market")
The company's total exports registered sales of 76,074 units in June 2024 as against 79,144 units in June 2023, down 4% YoY. Two-wheeler exports declined by 3% to 66,434 units in June 2024 from 68,568 units in July 2023. Customer retails are robust. However, There have been challenges in container availability due to prevailing conditions in the Red Sea, TVS Motor said in a statement.
For Q1 FY24, the companys two-wheeler sales added up to 10.56 lakh units (up 15% YoY), three-wheeler sales aggregated to 0.31 lakh units (down 11% YoY) and total auto exports amounted 2.54 lakh units (up 12% 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 has reported 18% rise in standalone net profit to Rs 485 crore on 24% increase in revenue from operations to Rs 8,169 crore in Q4 FY24 over Q4 FY23.
The scrip added 0.30% to currently trade at Rs 2361.50 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
