TVS Motors Two-Wheeler Sales Jan 2024; Volumes Shift to High Gear
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TVS Motors Two-Wheeler Sales Jan 2024; Volumes Shift to High Gear

News by Team Drivio | Feb 05, 2024

TVS Motor Company has started the year on a strong note, registering robust two-wheeler sales growth in January 2024 on the back of:

  • 25% increase in total two-wheeler sales 
  • 24% growth in domestic two-wheeler volumes to 268,233 units
  • Strong demand for TVS motorcycles and scooters driving sales

The company sold 329,937 two-wheelers in January this year compared to 264,710 units in January 2023. TVS Raider, TVS Apache range, TVS Jupiter, TVS Pep+ and TVS iQube all see positive numbers.

Domestic Two-Wheeler Sales Up 24%

The two-wheeler maker registered a 24% jump in domestic sales which stood at 268,233 units in January 2024 versus 216,940 units in the same month last year. This growth can be attributed to strong demand for TVS two-wheelers, particularly motorcycles and scooters, across the country. 

Motorcycle Volumes Surge 29%

In the motorcycle segment, TVS Motor Company posted a 29% volume growth selling 155,611 units in the domestic market in January 2024 compared to 121,042 units in January 2023. The company's popular motorcycle models like the TVS Apache and TVS Raider have seen robust sales over the past few months.

Scooter Sales Rise 24%

The scooter segment also witnessed healthy growth of 24% year-on-year with domestic scooter volumes increasing from 106,537 units in January 2023 to 132,290 units in January 2024. TVS scooter models like the Jupiter, NTorq and Pep+ have performed well on the sales charts.

Export Numbers Remain Flat

On the exports front, TVS Motor Company's two-wheeler exports remained flat at 61,704 units in January 2024 versus 47,770 units in the same month last year. The company exports its two-wheelers to over 60 countries across the globe.

Electric Vehicle Sales Expand 34%

The company also saw a 34% growth in domestic electric vehicle sales in January 2024 indicating that its electric scooter and motorcycle models are receiving good response from buyers. TVS currently sells four electric two-wheelers in India - the iQube Electric scooter, TVS iQube Electric motorcycle, TVS Creon e-bike and TVS Trek Electric bicycle.

Overall, it has been a positive start to the year for TVS Motor Company. The company seems poised to build on the sales momentum over the coming months on the back of new product launches, festive season demand and expansion in exports.