TVS scooters post 39% sales growth in September, hopes for robust festive season
- TVS' domestic two-wheeler sales have improved drastically, but international sales dropped marginally.
TVS Motor Company, in a statement, has announced that it registered a whopping 39 per cent growth in the scooter segment in September with 144,356 units sold, as compared to 104,091 units registered in September 2021. On the motorcycle front as well, the homegrown two-wheeler and three-wheeler manufacturing company has posted two per cent sales growth with 169,322 units last month, as compared to 166,046 units sold in September 2021.
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The overall two-wheeler business of the company posted a growth of nine per cent in September 2022 with 361,729 units sold, as compared to 332,511 units sold in the same month a year ago. Domestic two-wheeler sales registered a 16 per cent growth in September 2022 with 283,878 units sold, as compared to 244,084 units recorded in the same month a year ago.
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The company sold 4,923 units of TVS iQube electric scooter in September 2022 as against sales of 766 units in September 2021. The two-wheeler manufacturer claims to have had a robust start to the festive season, and the demand is expected to accelerate further during the season.
Not only domestic sales but the international two-wheeler business of the company witnessed a marginal slump up to 77,851 units sold in the last month, down from 88,427 units recorded in the same month a year ago. TVS Motor Company claims that despite the persisting economic slowdown and higher inflation rates, it is cautiously optimistic that the sales momentum will continue to improve, especially during the festive season, buoyed by the positive sentiment of the customers.
TVS has revealed the quarterly sales result of the company as well. In the second quarter of the current financial year, between July and September, two-wheelers posted a growth of 12 per cent with sales of 9.77 lakh units as against sales of 8.70 lakh units in the second quarter FY21-22.