TVS registers 4% sales growth in August, iQube clocks best-ever monthly volumes

TVS Motor Company reported its sales for August 2023 and the company sold a cumulative (domestic + exports) 345,848 units last month, registering a four per cent increase in year-on-year volumes. The company’s two-wheeler sales stood at 332,110 units last month, registering a growth of five per cent over 315,539 units sold in August 2022. Moreover, the TVS iQube registered its best-ever monthly sales in August.

Domestic two-wheeler sales grew by seven per cent at 256,619 units in August 2023, against 239,325 units sold in August 2022. Motorcycles contributed 153,047 units to two-wheeler sales last month, down by 2.59 per cent over 157,118 units sold during the same period last year. Scooter sales grew by 17 per cent during the same period up to 142,502 units in August this year, over 121,866 units sold during the same period last year.

TVS also announced that the iQube electric scooter clocked the highest monthly sales in August 2023 with 23,887 units sold. That’s a whole 440 per cent increase in volumes when compared to 4,418 units sold in August this year. The company further noted that the order book for the iQube continues to be healthy.

TVS’ exports saw a marginal drop in volumes last month with 87,515 units sold, as against 93,111 units in August 2022, registering a six per cent decline. Two-wheeler exports stood at 75,491 units in August 2023 as against 76,214 units in August 2022, remaining flat year-on-year. Lastly, three-wheeler sales stood at 13,738 units in August 2023 as against 18,248 units a year ago, registering a 24.72 per cent drop in volumes annually.