TVS Motor Company registers 2% growth in October sales at 360,288 units

Two-wheeler major TVS Motor Company has reported a 2% rise in October sales at 360,288 units as compared to 355,033 units sold in October of 2021. The company's overall two-wheeler sales stood at 344,630 units last month as against sales of 341,513 units in the year-ago period. Its domestic two-wheeler sales registered a growth of 7%, seeing a rise from 258,777 units in October of 2021 to 275,934 units in October of 2022.

Motorcycle sales of TVS Motor Company stood at 164,568 units as against sales of 172,361 units in October 2021 while scooter sales climbed 20% with sales increasing from 113,124 units in the year-ago period to 135,190 units in October of 2022.

In its October sales report, TVS Motor Company noted that the market sentiment for all its products has been very positive. “We are optimistic that the demand in domestic two-wheeler market will continue," a statement read.

In terms of sales of its electric scooter - the TVS iQube - the company register massive growth, climbing from 395 units in the year-ago period to 8,103 units in October of 2022. Three-wheeler sales grew by 16%, registering sales of 15,658 units last month as against 13,520 units in October 2021.

The company's exports last month stood at 82,816 units in October of 2022 as against sales of 95,191 units in October of 2021. Total two-wheeler exports registered sales of 68,696 units last month as against 82,736 units in October of 2021.

However, due to macro-economic factors, there has been some slowdown in some international markets. “These are predominantly two-wheeler markets and hence we have moderated dispatches in these countries. However, we have seen some retail improvement in these markets in October which will support improved despatches in the coming months," the company said in a statement.