TVS Motor declines after December sales slips 4% YoY

TVS Motor Company fell 1.76% to Rs 1,067.20 after the company's total sales declined by 3.58% in December 2022 with sales of 242,012 units as against 250,993 units in December 2021.

Total two-wheelers sales slipped 3.28% to 227,666 units in December 2022 as compared with 235,392 units sold in December 2021. Domestic two-wheeler sales stood at 161,369 units in December 2022, registering a growth of 10% from 146,763 units sold in the same period last year.

Motorcycle sales tumbled 6.73% to 124,705 units in December 2022 as against 133,700 units sold in December 2021. Scooter sales of the company registered 76,766 units in December 2022 as compared to the sale of 67,533 units in December 2021, recording a growth of 14% year on year.

The company's total exports slumped 23.22% to 79,402 units in December 2022 as against 103,420 units in December 2021. Two-wheeler exports dropped 25.2% to 66,297 units in December 2022 from 88,629 units sold in the same period a year ago.

In the three-wheeler segment, the sales of the company declined 7.69% to 14,346 units in December 2022 from 15,541 units in December 2021.

In the electric vehicle segment, the company sold 11,071 units of TVS iQube Electric in December 2022 as against sales of 1,212 units in December 2021. TVS iQube Electric continued to gain good momentum backed by the strong order book and increasing acceptance towards electric mobility, said the company.

During the third quarter of the current financial year, two-wheeler posted a growth of 1.2% with sales registered 8.4 lakh units as against sales of 8.3 lakh units in the third quarter of FY 21-22. Three-wheeler registered a decline of 2.27% with sales of 0.43 lakh units in Q3 FY23 as against 0.44 lakh units posted in the same period last year. Total exports dropped 13.79% to 2.5 lakh units sold in the current quarter as against 2.9 lakh units in the third quarter of FY 21-22.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. The company has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.

On consolidated basis, the company's net profit jumped 59.5% to Rs 386.31 crore on 32% rise in net sales to Rs 8,560.76 crore in Q2 FY23 over Q2 FY22.

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