TVS Motor sales decline 3.6% in December as motorcycles hit rough patch

Motorcycle sales dipped by 6.7% to 124,705 units in Dec 2022; iQube electric sales provide silver lining, rise 10-fold YoY

Chennai-based automobile major TVS Motor Company has posted a 3.6 per cent dip in sales volume to 242,012 units in December 2022, from 250,993 units in the corresponding month in 2021.

Total two-wheeler sales fell 3.4 per cent to 227,666 units in December 2022, from 235,392 units a year ago. However, domestic two-wheeler sales were up 10 per cent, from 146,763 units in December 2021 to 161,369 units in December 2022.

Motorcycle sales dipped by as much as 6.7 per cent to 124,705 units in December 2022, from 133,700 units a year ago. Scooter sales were up a healthy 14 per cent, from 67,533 units in December 2021 to 76,766 in December 2022.

TVS iQube Electric continued to gain momentum, backed by a strong order book and increasing acceptance of electric mobility. TVS iQube Electric sales were up nearly 10-fold, to 11,071 units in December 2022, from 1,212 in December 2021.

The company's total exports stood at 79,402 units in December 2022 as against 103,420 units a year prior. Two-wheeler exports stood at 66,297 units in December 2022 versus 88,629 units in December 2021. The firm's three-wheeler sales dipped to 14,346 units in December 2022, from 15,541 units a year ago.

During the third quarter of the current financial year, TVS sold 840,000 two-wheelers as against 830,000 in the third quarter of FY22. Its three-wheeler sales stood at 43,000 during the quarter, as against 44,000 in the corresponding period of FY22. Total exports stood at 250,000 units in Q3FY23 as against 290,000 units in Q3FY22.