TVS Motor one of India's leading manufacturers of two-wheelers (2W) and three-wheelers (3W) has been actively expanding its lineup both domestically and internationally. The company has seen a steady increase in sales, which was evident in the sales figures for February 2024 totaling 368,424 units across both categories.
TVS Sales February 2024
In February 2024, TVS reported positive year-on-year (YoY) growth in all segments, although there were slight setbacks in month-on-month (MoM) analysis. Motorcycles remained the top-selling category for TVS, with approximately 184,023 units sold last month. This marked a significant 45.77% YoY growth compared to February 2023, and an 18.26% MoM growth compared to January 2024. Motorcycles constituted 51.43% of total sales, up from 47.16% in the previous month.
Scooters followed closely with 132,152 units sold, showing a YoY growth of 26.07%. However, there was a marginal 0.10% MoM dip compared to the previous month. TVS' electric scooter lineup witnessed a 15.7% YoY growth, with 17,959 units sold, contributing to 5.02% of total sales.
TVS continued its strong performance in the moped segment, selling 41,635 units resulting in a 15.79% YoY growth. However, there was a slight 0.95% MoM decline in sales. In the domestic market, TVS sold a total of 267,502 2W vehicles, marking a 20.82% YoY growth but a minor 0.27% MoM decline.
Exports and Overall Performance
TVS' exports saw a significant boost, with 90,308 units shipped, representing a remarkable 97.94% YoY growth and a substantial 46.36% MoM growth. Domestic sales accounted for 74.76% of total 2W sales, while exports contributed 25.24%.
In total, TVS sold 357,810 2W vehicles last month, reflecting a 34% YoY growth and an 8.45% MoM growth. In the 3W segment, the company sold a total of 10,614 vehicles, with 2,066 units sold domestically and 8,548 units exported. This segment witnessed a positive 16.33% YoY growth and a 10.84% MoM growth.
Overall Performance
TVS' total domestic sales (2W+3W) reached 269,568 units, showing a healthy 21.02% YoY growth but a negligible 0.22% MoM decline. Total exports stood at 98,856 units, marking an impressive 85.11% YoY growth and a significant 42.56% MoM growth.
TVS Motor witnessed substantial growth in both domestic and export markets with a total of 368,424 vehicles sold in February 2024 representing a strong 33.41% YoY growth and an 8.52% MoM growth.