In June 2024, TVS Motor Company sold 333,646 units, marking a 5% increase from the 316,411 units sold in June 2023.
TVS Motor Two-Wheeler: The number of two-wheelers on the road increased by 6% overall, going from 304,401 units in June 2023 to 322,168 units in June 2024. Specifically, the local two-wheeler market saw an 8% growth, rising from 235,833 units to 255,734 units during the same period.
Breaking it down further, motorcycle sales increased by 3%, climbing from 148,208 units in June 2023 to 152,701 units in June 2024. Scooter sales also saw a 6% growth, rising from 121,364 units in June 2023 to 128,986 units in June 2024.
TVS Motor Electric Vehicle: In June 2024, the sales of electric vehicles (EVs) rose by 10% compared to the previous year. The number of units sold went up from 14,462 in June 2023 to 15,859 in June 2024.
TVS Motors had good sales in June 2024, and some models did well. Let’s take a closer look at which models stood out.
XL Mopeds: The XL moped continued its strong showing, with sales jumping 17.1% year-over-year to 40,397 units. This robust performance captured a healthy 15.8% share of the market.
Apache Motorcycles: The Apache motorcycle range impressed with a growth of 32.1%. Sales figures climbed to 37,162 units, compared to 28,127 units in June 2023, securing a 14.53% market share.
Raider: Sales for the Raider scooter dipped 13% to 29,850 units, representing 11.67% of total sales
Ntorq: The Ntorq scooter experienced a slight decline of less than 1%, selling 27,812 units and maintaining a 10.88% market share.
iQube: TVS’s electric scooter, the iQube, maintained a positive trajectory with a 5.17% increase in sales, reaching 15,210 units and contributing to 5.95% of the market share.
TVS Sport & Radeon: These motorcycles saw minor variations, with Sport experiencing a slight dip and Radeon showing a modest increase in sales.
Zest: The Zest scooter emerged as the growth champion, with sales surging by nearly 50% to 8,779 units, capturing a 3.43% market share.
Ronin: This new model sold 1,814 units in its first June on the market, contributing 0.71% to overall sales.
Star City & Apache 310: These models faced significant declines in sales compared to June 2023. Star City sales plummeted by a staggering 84.66%, while Apache 310 sales dropped by 30.88%.
Pep+: This model saw a complete sales decline in June 2024, with no units sold compared to 1,379 units the previous year.
TVS Motor International Business
In June 2024, The Company sold 76,074 units globally, slightly lower than the 79,144 units sold in June 2023. Specifically, two-wheeler exports reached 66,434 units in June 2024, a bit down from 68,568 units in July 2023. Despite facing some hurdles with container availability in the Red Sea, customer sales remain strong.
Three-Wheeler: In June 2024, 11,478 three-wheelers were sold, slightly lower than the 12,010 units sold in June 2023.