TVS Motor Company sells 287,058 two-wheelers in May
TVS Motor Company on Wednesday has said that it has sold a total of 287,058 units of motorcycles and scooters in May 2022, as compared to 154,416 units of two-wheelers in the same month a year ago. The two-wheeler major has also said that its domestic sales in May this year were 191,482 units as compared to 52,084 units registered in May 2021.
TVS claimed that its motorcycle sales increased from 125,188 units in May 2021 to 148,560 units in May 2022, while scooter sales of the company grew from 19,627 units in May 2021 to 100,665 units in May 2022. However, despite growth in both motorcycles and scooters segments in May 2022 in the domestic market, the export numbers for the company dipped slightly. The auto company claimed that its two-wheeler exports recorded 95,576 units last month, as compared to 102,332 units sold in May 2021.
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While overall sales of the auto company surged in May 2022 as compared to 2021, TVS has claimed that the shortage of semiconductors has impacted the production and sales of its premium two-wheelers. The auto company sells premium two-wheelers such as Apache series motorcycles, Jupiter scooter, iQube electric scooter etc. The TVS iQube electric scooter claimed to have sold 2,637 units in May 2022.
Speaking about the production and sales disruption due to the supply chain crisis, TVS has said that it is working with alternate sources and taking various measures to improve supplies at the earliest. It also claims that some improvement has been seen last month. The auto company in a statement has further said that it is optimistic that volumes will revive to normal levels once the semiconductor supplies improve.