TVS reports massive sales growth in February: Check details
TVS Motor Company, one of the top two-wheeler manufacturers in India, experienced a significant sales boost in February 2024. The company sold a whopping 3,68,424 units, marking a 33.41% year-on-year (YoY) growth and an 8.52% month-on-month (MoM) increase. This strong performance spanned various segments, including motorcycles, scooters, electric scooters, mopeds, and three wheelers. Here's a look at its overall sales performance in both domestic and export markets.
Motorcycles lead the way for TVS sales
Motorcycles were TVS's best-selling segment in February 2024, with 1,84,023 units sold. This impressive figure represents a 45.77% YoY growth compared to the 1,26,243 units sold in February 2023 and an 18.26% MoM growth compared to the 1,55,611 units sold in January 2024. Motorcycles made up 51.43% of the company's total sales last month, up from 47.16% in January 2024.
Scooters and electric scooters show positive growth
In February 2024, TVS's scooter sales hit 1,32,152 units, a 26.07% YoY growth compared to the 1,04,825 units sold the previous year. However, there was a slight 0.1% MoM dip as the company sold 1,32,290 scooters in January 2024. In the electric scooter segment, TVS saw a 15.7% YoY growth and a 10.34% MoM growth, with 17,959 units sold in February 2024.
Exports witness major boost for TVS Motor Company
TVS Motor Company's exports experienced a substantial increase in February 2024, with the company shipping 90,308 units of two-wheeled vehicles. This marked a 97.94% YoY growth and a 46.36% MoM growth. Domestic sales made up 74.76% of the total two-wheeler sales, while exports accounted for 25.24%. In the three-wheeler segment, TVS sold a total of 10,614 units, with 2,066 units sold domestically and 8,548 units exported. This resulted in a positive 16.33% YoY growth and a 10.84% MoM growth.
