TVS Rides High on New Launches & Festive Cheer, October Sales Surge By 21%

TVS Motor Company achieved record monthly growth of 21% in October 2023, surpassing rivals Hero MotoCorp and Bajaj Auto

• Total two-wheeler sales increased 21% to 394,724 units versus 326,988 units in October 2022.
• Motorcycle sales rose by 24% to 164,568 units against 132,717 units in the same month last year.
• Scooter sales registered 18% growth at 140,696 units compared to 119,264 units in October 2022.
• Exports also increased by 21% with 67,505 units shipped compared to 55,680 units in October last year.

The company credited its strong October performance to positive customer sentiment during the festive season, as well as new product launches. This includes the recent launch of the 2023 TVS Apache RTR 160 and TVS Apache RTR 180.

Rival Hero MotoCorp reported a growth of 16% in October 2023 with sales of 5,07,690 units versus 4,37,559 units. Bajaj Auto saw more modest gains, with total sales increasing 7% to 4,26,021 units last month. Besides the Apache series, the other popular two-wheelers include TVS Jupiter, TVS NTorq 125, TVS Raider, TVS Sport, and the recently launched TVS X electric scooter. 

TVS is expected to continue its strong run in the coming months, as demand remains upbeat due to several new product launches in the pipeline. The company plans to launch electric two-wheelers soon to boost its sales further and compete with the likes of Ola Electric and Ather Energy.

So in summary, TVS Motor Company achieved its highest-ever monthly sales growth in October 2023, surging 21% year-on-year on continued robust demand, new product launches, and positive festival season sentiment. This allowed it to surpass rivals, Hero and Bajaj.