TVS Motor Achieves 7% Sales Growth in December 2024
TVS Motor reported a 7% year-on-year sales growth in December 2024, with a total of 321,687 units sold. The company saw an 8% increase in two-wheeler sales during the same month, reaching 312,002 units, up from 290,064 units in December 2023. Notably, domestic sales rose slightly, with 215,075 units sold in the local market compared to 214,988 units in the previous year.
Two-Wheeler Performance Breakdown
Scooter sales performed exceptionally well, growing by 30% to reach 133,919 units. However, motorcycle sales saw a decline, dropping to 144,811 units from 148,049 units in December 2023. On the other hand, three-wheeler sales experienced an 18% decrease, with only 9,685 units sold in December.
Strong Growth in Electric Vehicle (EV) Sales
TVS Motor’s electric vehicle (EV) sales demonstrated impressive growth, increasing by 79% to 20,171 units, up from 11,288 units in December 2023. The company, a key player in the electric two-wheeler market, continues to prioritize EVs and aims to expand its range with more affordable electric models.
Export and Quarterly Performance
Exports also saw notable growth, with TVS Motor exporting 96,927 two-wheelers in December 2024, marking a 29% rise compared to the 75,076 units exported in the same month last year. Overall, total exports for the company grew by 22% year-on-year, reaching 104,393 units in December.
In the quarter ending December 2024, TVS Motor posted an 11% growth in total two-wheeler sales, reaching 11.8 lakh units. Electric two-wheeler sales in this quarter grew significantly, with 76,000 units sold, up from 48,000 units in the third quarter of FY24. However, three-wheeler sales declined to 29,000 units, down from 38,000 units in the same quarter of the previous year.