TVS Sales in August 2024 – Scooters, Motorcycles, Electric Vehicles, Mopeds,

TVS Motor’s sales in August 2024 increased by 13% year-on-year to 391,588 units, with strong growth in both 2W and EV sales and improvement in exports

TVS Motor Company’s total two-wheeler and three-wheeler sales rose to 3,91,588 units in August 2024. This is a year-on-year growth of 1.23% with an increase of 45,740 units sold compared to 3,45,848 units sold in August 2023. Sales of two-wheelers, including motorcycles and scooters, have increased while the company’s electric vehicles are also in high demand.

TVS Car Sales – August 2024

TVS sold a total of 3,78,841 two-wheelers in August 2024. This is a 14.07% increase from 3,32,110 units sold in August 2023. The company’s sales in the domestic market grew from 2,56,619 units sold in August 2023 to 2,89,073 units in August 2024, a growth of 12.52%.

Talking about the company’s motorcycle and scooter sales separately, motorcycle sales surged to 1,70,486 units last month, up 11.39% year-on-year from 1,53,047 units in the same period last year. Sales grew by 17,439 units, of which motorcycles accounted for 45%. Scooters, on the other hand, saw a greater demand for sales, with sales rising 14.83% year-on-year to 1,63,629 units in August 2024. 1,42,502 units were sold in August 2023.

TVS also offers the popular iQube electric scooter. Sales of the electric scooter grew 3.73% YoY to 24,779 units, while accounting for 6.54% of the list. Sales of mopeds were also high, with sales rising 22.33% YoY to 44,726 units last month. Mopeds, including the XL, account for 11.81% of the company’s 2W portfolio.

Two-wheeler shipments in the global market grew by 18.91% in August 2024. The company exported 89,768 units last month. In August 2023, exports exceeded 75,491 units, accounting for 23.70% of exports. Three-wheeler domestic sales also grew significantly, from 1,714 units in August 2023 to 2,539 units in August 2024, an increase of 48.13%. However, exports fell by 15.10% to only 10,208 units, down from 12,024 units in August 2023.

Total domestic sales (2+3W) grew 12.75% to 2,91,612 units. Exports (2+3W) grew even more at 14.42% to 99,976 units. In the same period last year, domestic sales were 2,58,633 units and exports were 87,515 units.

TVS Car Monthly Sales – August 2024 vs. July 2024

On a year-on-year basis, TVS Motor also posted a strong month-on-month (MoM) performance with total 2+3 wheeler sales and exports growing by 10.57% over 3,54,140 units in July 2024. In August 2024, total two-wheeler sales (domestic + exports) grew by 11.53% to 3,78,841 units over 3,39,676 units in July 2024.

This resulted in a 5.84% month-on-month increase in motorcycle sales, while scooter sales grew 16.88% from 1,39,995 units in July 2024. Electric scooters and mopeds also saw a growth of 15.56% and 15.85% respectively. Total 2W domestic sales grew 13.70% month-on-month, while 2W exports saw a lower percentage increase of 5.08%.

TVS 3W domestic sales increased by 10.34% month-on-month from 2,301 units in July 2024, while 3W exports declined by 16.07% to 10,208 units last month from 12,163 units in July 2024. The decline in exports led to a 11.87% decline in 3W’s total sales.