TVS Motor Company Reports 25% Sales Increase in April 2024

TVS Motor reports 25% YoY sales growth in April 2024, driven by strong domestic two-wheeler and EV sales, highlighting its market leadership and commitment to sustainable mobility.

Dil Bar Irshad
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TVS Motor Company Reports 25% Sales Increase  in April 2024

TVS Motor Company Reports 25% Sales Increase in April 2024

TVS Motor Company, a leading two and three-wheeler manufacturer, reported a 25% year-on-year increase in total sales, reaching 383,615 units in April 2024 compared to 306,224 units in the same month last year. The company saw strong performance across its domestic two-wheeler, motorcycle, scooter, and electric vehicle segments.

Domestic two-wheeler sales increased by 29% to 301,449 units, with motorcycle sales growing by 24% to 188,496 units and scooter sales rising by 34% to 144,126 units. TVS Motor Company also recorded a significant increase of 61% in electric vehicle sales, selling 17,403 units under the government's new Electric Mobility Promotion Scheme (EMPS) 2024, which came into effect in April after the FAME II scheme ended in March.

Exports also saw growth, with a 12% increase to 80,508 units. Two-wheeler exports increased by 18% to 73,143 units. However, the company's three-wheeler sales declined by 21% to 9,023 units in April 2024 compared to 11,438 units in April 2023.

TVS Motor Company's strong sales performance in April 2024 highlights the company's position in the competitive Indian two-wheeler market and its commitment to sustainable mobility solutions. The robust demand for its electric vehicles, boosted by the new EMPS 2024 scheme, indicates the growing adoption of eco-friendly transportation in India.

The company maintained a significant market share in the motorcycle (50.22%) and scooter (38.48%) segments. TVS Motor Company's sales performance emphasizes its position in the Indian two-wheeler market and its focus on high-quality products and sustainable mobility solutions.

Key Takeaways

  • TVS Motor sales up 25% YoY to 383,615 units in April 2024.
  • Domestic 2-wheeler sales up 29%, motorcycles up 24%, scooters up 34%.
  • EV sales surged 61% to 17,403 units under new EMPS 2024 scheme.
  • Exports up 12%, 2-wheeler exports up 18%, 3-wheeler sales down 21%.
  • TVS maintains significant market share in motorcycles (50.22%) and scooters (38.48%).