Introduction:
TVS Motor Company has introduced remarkable income figures for September 2024, attaining a complete of 482,495 units bought, representing a sturdy 20% increase as compared to the 402,553 devices bought in September 2023. This increase is pushed commonly via sturdy domestic call for and a super uptick in electric automobile (EV) sales.
Two-Wheeler Segment
The company’s two-wheeler division performed exceptionally well, recording a 22% increase in sales. Units sold rose from 386,955 in September 2023 to 471,792 in September 2024. Notably, domestic two-wheeler sales surged by 23%, from 300,493 to 369,138 units.
- Motorcycles led the charge, with a 23% increase in sales, climbing from 186,438 to 229,268 units.
- Scooters also showed solid growth, achieving a 20% increase, from 155,526 to 186,751 units.
This strong performance in the two-wheeler category reflects the brand’s ability to meet consumer demand and adapt to changing market trends.
Electric Vehicle Growth
In a sign of the shifting automotive landscape, TVS’s EV sales soared by 42%, rising from 20,356 units in September 2023 to 28,901 units in September 2024. This growth underscores the increasing consumer preference for sustainable transport solutions and TVS’s commitment to expanding its electric portfolio.
TVS Motor Company Achieves Remarkable 20% Sales Growth in September 2024:
International Business
On the international front, TVS recorded an 11% increase in total exports, with sales rising from 100,294 units in September 2023 to 111,007 units in September 2024. The two-wheeler exports specifically saw a 19% growth, jumping from 86,462 to 102,654 units.
This reflects the company’s strengthening presence in global markets and its strategic efforts to enhance export capabilities
Three-Wheeler Segment
However, the three-wheeler segment faced challenges, with sales decreasing from 15,598 units in September 2023 to 10,703 units in September 2024. This decline may signal shifting consumer preferences or increased competition in the segment.
Second Quarter Performance
For the second quarter of FY 2024-25, TVS reported a 15% growth in two-wheeler sales, increasing from 10.31 lakh units in the same quarter of the previous year to 11.90 lakh units. However, three-wheeler sales dipped slightly from 0.43 lakh units to 0.38 lakh units. Total exports also saw an 11% rise, from 2.77 lakh to 3.09 lakh units, demonstrating resilience amid fluctuating market conditions.
Conclusion
TVS Motor Company’s September sales figures highlight a strong recovery trajectory and robust consumer demand, particularly in the two-wheeler and EV segments. While the three-wheeler market shows signs of contraction, the company’s diversification and strategic focus on exports position it well for continued growth in the coming months.
With ongoing investments in technology and product development, TVS is poised to capitalize on the evolving automotive landscape.
FAQ:
1. What are the key sales figures for TVS Motor Company in September 2024?
TVS Motor Company recorded total sales of 482,495 units in September 2024, marking a 20% increase compared to 402,553 units in September 2023.
2. How did the two-wheeler segment perform?
The two-wheeler segment registered a sales increase of 22%, with 471,792 units sold in September 2024, up from 386,955 units in September 2023. Domestic sales specifically grew by 23%.
3. What were the motorcycle and scooter sales figures?
Motorcycle sales increased by 23%, rising from 186,438 units in September 2023 to 229,268 units in September 2024. Scooter sales grew by 20%, from 155,526 to 186,751 units.
4. How did electric vehicle (EV) sales perform?
EV sales saw significant growth of 42%, increasing from 20,356 units in September 2023 to 28,901 units in September 2024. This reflects the growing consumer interest in sustainable transportation.
5. What was the performance of the international business?
TVS’s international exports rose by 11%, with total sales increasing from 100,294 units in September 2023 to 111,007 units in September 2024. Two-wheeler exports specifically grew by 19%.
6. What challenges did the three-wheeler segment face?
The three-wheeler segment experienced a decline in sales, dropping from 15,598 units in September 2023 to 10,703 units in September 2024, potentially due to changing market dynamics and consumer preferences.
7. How did TVS perform in the second quarter of FY 2024-25?
In the second quarter, two-wheeler sales increased by 15%, from 10.31 lakh units to 11.90 lakh units. Three-wheeler sales decreased slightly from 0.43 lakh units to 0.38 lakh units. Total exports in this quarter grew by 11%.
8. What strategies is TVS implementing for future growth?
TVS Motor Company is focusing on expanding its electric vehicle portfolio, enhancing its international presence, and investing in technology and product development to meet changing consumer demands.
9. Where can I find more information about TVS Motor Company?
For detailed information, including investor updates and product releases, you can visit the official TVS Motor Company website or their investor relations page.
10. Who can I contact for further inquiries?
For additional questions or concerns, you can reach out to TVS Motor Company’s customer service through their website or contact their corporate communications team directly.
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