TVS sales analysis in July 2024 – Jupiter, XL100, Apache, Ntorq,

TVS Jupiter, XL, Apache and Ntorq together account for 67% of the company’s portfolio and achieved record sales growth year-on-year

TVS Motor Company’s monthly domestic two-wheeler sales in July 2024 stood at 2,53,971 units, up 7.97 per cent from 2,35,230 units in July 2023. The sales volume grew by 18,741 units. Except for the Raider and Apache 310, most of the models in the company’s portfolio have seen significant improvement in year-on-year sales.

TVS year-on-year sales breakdown for July 2024

TVS Motor had a solid performance in July 2024 with a significant increase in sales. The most popular was the Jupiter with sales of 74,663 units, a year-on-year growth of 12.38% compared to 66,439 units in July 2023. The scooter captured 29.40% of the market share and was also the second best-selling scooter in the country after Honda Activa. In fact, three models of TVS made it to the list, namely Ntorq and iQube, which were ranked 6th and 7th respectively.

TVS XL moped sales rose 3.74% year-on-year to 37,563 units, up from 36,208 units in July 2023, while Apache sales rose 36.76% year-on-year to 30,681 units, a significant improvement from 22,246 units in the same period last year. The Apache was also the fifth-best selling motorcycle last month, well ahead of the Bajaj Platina and Honda Unicorn.

Ntorq’s sales grew 3.83% YoY to 26,829 units in the past month, an increase of 990 units from the 25,839 units sold in July 2023. However, Raider’s sales fell 33.48% to 24,547 units, a sharp drop of 12,353 units compared to the 36,900 units sold in July 2023. Electric scooter TVS iQube was in high demand in July 2024 with 21,064 units sold. This is a YoY growth of 58.30% compared to the 13,306 units sold in the same period last year. iQube currently holds an 8.29% share in the list.

TVS Sport sales grew by 1.39%, Radeon sales grew by 9.13% to 12,106 and 10,510 units respectively, while Zest sales also grew by 41.76% YoY with 10,343 units sold last month. Star City (3,853 units) and Ronin (1,781 units) grew by 22.47% and 2.24% YoY respectively. However, Apache 310 sales fell sharply by 91.09% with only 31 units sold last month compared to 348 units sold in July 2023.

TVS Sales July 2024 – Monthly Performance

TVS’s month-on-month sales performance was quite lackluster. In June 2024, sales stood at 2,55,723 units, down 0.69% year-on-year, with a large number of models seeing sales decline. Jupiter’s sales rose 3.55% month-on-month, with sales of 72,100 units in June 2024, up 2,563 units year-on-year. However, TVS XL’s sales fell sharply by 7.02%. Apache’s sales fell by 17.44%, while Ntorq and Raider’s sales fell by 3.53% and 17.77%, respectively.

With the growing demand for electric two-wheelers, TVS iQube sales have increased by 38.49% month-on-month from 15,210 units sold in June 2024. TVS is also the second-best-selling electric two-wheeler manufacturer after Ola Electric, with an 18.09% share in the segment.

TVS Sport and Radeon sales increased by 4.19% and 2.30% respectively, while Zest and Star City sales increased by a greater amount, up 17.82% and 718.05% respectively. TVS Ronin and Apache 310 sales decreased by 1.82% and 86.81% respectively.