TVS Motor sales rise 4% to 345,848 units in August 2023, ETAuto
TVS iQube Electric recorded highest sales of 23,887 units in August 2023New Delhi: TVS Motor Company reported 4% growth in sales at 345,848 units in August 2023 from 333,787 units in August 2022.
Total two-wheeler sales recorded a growth of 5%, from 315,539 units in August 2022 to 332,110 units in August 2023. Domestic two-wheeler sales grew by 7%, from 239,325 units in August 2022 to 256,619 units in August 2023.
Motorcycle volumes declined by 6% at 153,047 units in August 2023 compared to 157,118 units in August 2022. Scooter sales recorded a growth of 17%, with sales increasing from 121,866 units in August 2022 to 142,502 units in August 2023.
TVS iQube Electric recorded highest sales of 23,887 units in August 2023, while 4,418 units were sold in August 2022. The company said that the order book of TVS iQube electric scooter remains good.
The company’s total exports recorded sales of 87,515 units in August 2023 as against 93,111 units in August 2022, a decline of 6%. Two-wheeler exports alone recorded a 1% decline in sales at 75,491 units in August 2023, compared to 76,214 units in August 2022.
The company’s three-wheeler sales declined by 25% to 13,738 units in August 2023, compared to 18,248 units in August 2022.
The company’s total exports recorded sales of 79,144 units in June 2023, while it stood at 114,449 units in June 2022. Two-wheeler exports recorded sales of 68,568 units in June 2023, compared to 100,625 units in June 2022.
Ather Energy CEO Tarun Mehta told ET that one in every five two-wheelers sold in India will be electric within the next two years, as manufacturers introduce more affordable models and the network of public charging stations becomes stronger.
This collaboration has resulted in the development of four products on the 310cc platform: the BMW G 310 R, the BMW 310 GS, the BMW G 310 RR and TVS Motor Company’s flagship motorcycle, the TVS Apache RR 310.
Launched at Rs 2.50 lakh (ex-showroom, Bengaluru), the new TVS EV comes with a 4.44kWh dual battery pack. With new technology offerings, the company is targeting Gen-Z and sees X as the spearhead of its premium growth strategy in India and international markets. Furthermore, it aims to become a global mobility firm and plans to launch multiple EV products over the next one and a half years. Currently, about 20% of TVS scooters sales are electric, which is expected to double in the next two years.
