TVS Motor Company registers its highest ever sales in FY 2023-24
- TVS is working on an electric moped which is expected to make its debut later this year.
TVS Motor Company has announced that they have registered a growth of 12 per cent as the sales figures increased from 3,17,152 units in March 2023 to 3,54,592 units in March 2024. The two-wheeler sales saw a growth of 12 per cent with sales increasing from 307,559 units in the month of March 2023 to 3,44,446 units in March 2024. Domestic two-wheelers registered growth of 8 per cent with sales increasing from 2,40,780 units in March 2023 to 2,60,532 units in March 2024.
Motorcycles registered a growth of 22 per cent with sales increasing from 1,41,250 units in March 2023 to 171,611 units in March 2024. Scooter registered a growth of 2 per cent with sales increasing from 1,28,817 units in March 2023 to 1,31,472 units in March 2024.
The iQube from TVS is one of the most successful electric scooters in the Indian market. The company achieved the highest Vahan retails in March 2024. The electric vehicles recorded sales of 15,250 units in March 2024 as against sales of 15,364 units in March 2023.
The international business has also been doing well for TVS Motor Company. The total exports registered a growth of 23 per cent with sales increasing from 75,037 units in March 2023 to 91,972 units in March 2024. Two-wheeler exports registered a growth of 26 per cent with sales increasing from 66,779 units in March 2023 to 83,914 units in March 2024.
Also Read : TVS E-XL and XL EV trademarks filed for upcoming XL100 electric moped
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TVS recently announced that they will be entering France. For this, they will be partnering with Emil Frey for distribution. Emil Frey is a 100-year-old enterprise that has deep market insights into Europe.
The company is committed to investing ₹5,000 crore for the design, development and deployment of future technologies across products. The homegrown automaker is present in both the two and three-wheeler segments and the investment will be made in both these categories.