TVS Motor Closes 2024 on a High Note: 11% Growth in Two-Wheeler Sales and 22% Surge in Exports
TVS Motor Company, a leading player in the two-wheeler industry, has wrapped up 2024 with remarkable achievements. The company reported an 11% growth in two-wheeler sales and a significant 22% boost in exports, marking a successful year of expansion and innovation.
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TVS Motor Sales Performance
In December 2024, TVS Motor Company saw a 7% increase in sales, totaling 321,687 units, up from 301,898 units in December 2023. This growth was driven by the strong performance of their scooter segment, which registered a remarkable 30% increase in sales. Scooters emerged as the hero products for TVS, with sales surging from 103,167 units in December 2023 to 133,919 units in December 2024.
However, motorcycle sales experienced a slight dip, decreasing from 148,049 units in December 2023 to 144,811 units in December 2024. Despite this, the overall two-wheeler sales saw an 8% rise, climbing from 290,064 units in December 2023 to 312,002 units in December 2024.
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TVS Motor Electric Vehicles (EVs)
The electric vehicle segment witnessed phenomenal growth, with TVS selling 20,171 EVs in December 2024, a significant jump from 11,288 units in December 2023. This 79% growth highlights the increasing demand for sustainable mobility solutions and TVS’s commitment to innovation in the EV space.
TVS Motor Exports
TVS’s export numbers also saw impressive growth, with a 22% increase in total exports, rising from 85,391 units in December 2023 to 104,393 units in December 2024. Two-wheeler exports contributed significantly to this growth, with a 29% increase in sales, reaching 96,927 units compared to 75,076 units last year.
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TVS Motor Quarterly Performance
During the third quarter of the 2024-25 financial year, TVS’s two-wheeler sales grew by 11%, with the company selling 11.8 lakh units, up from 10.6 lakh units in the same quarter last year. This growth was supported by the launch of multiple new two-wheelers, including the new Jupiter 110, the new Apache RR 310, the Raider, and new battery options for the iQube.
TVS Motor Company’s performance in 2024 showcases its resilience and adaptability in a competitive market. With significant growth in both domestic and international markets and a strong focus on innovation, particularly in the electric vehicle segment, TVS is well-positioned for continued success in the coming years.
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