TVS Motor Company’s operating revenue grew by 15% at ₹6,545 Crore
TVS Motor Company has announced that its operating revenue grew by 15 per cent to ₹6,454 crore for the quarter ended December 2022. When compared to quarter ended December 2021, the revenue stood at ₹5,706 crore. The manufacturer also announced that the electric vehicle sales in quarter 3 nearly doubled over the previous quarter.
The electric vehicles registered sales of 29,000 units in the quarter ended December 2022 as against 2,000 units during the quarter ended December 2021 and 16,000 units during quarter ended September 2022.
As of now, TVS only has the iQube electric scooter in its line-up. The manufacturer updated the iQube substantially in 2022. It is offered in three variants, Standard, S and ST. The Standard is priced at ₹1.67 lakh whereas the iQube S costs ₹1.72 lakh. Both prices are ex-showroom.
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While the Standard and S are already on sale, the ST was postponed because the manufacturer was facing some issues regarding battery packaging. However, it seems like the issue has been resolved because TVS showcased the iQube ST at the Auto Expo 2023 and the customers would soon be getting a link about the dealership from where they would be able to take the delivery of the electric scooter.
The company registered total two-wheeler sales of 8.36 Lakh units in the current quarter as against 8.35 Lakh units in the quarter ended December 2021. Two-wheeler export sales registered 2.07 Lakh units as against 2.53 Lakh units in December 2021. Total three-wheelers registered sales of 0.43 Lakh units in the quarter ended December 2022 as against 0.44 Lakh units in the quarter ended December 2021.