Hot Pursuit     02-May-23
TVS Motor Co's auto sales rise by 4% YoY to 3.06 lakh units in April'23
TVS Motor Company said that total sales in the month of April 2023 were 306,224 units, recording a sales growth of 4% as compared with the same period last year.

Total sales in April 2022 amounted to 295,308 units.

Total two-wheeler sales rose by 5% to 294,786 units in April 2023 from 280,022 units in April 2022. Motorcycle sales aggregated to 152,365 units (up 10% YoY) and scooter sales added up to 107,496 units (up 5% YoY) in April 2023.

"TVS iQube has recorded a sales milestone of 1,00,000 units. The order book for TVS iQube continues to be very robust and TVS Motor will retain the growth momentum,” the Chennai-based company said.

Three-wheeler sales of the company declined by 25% to 11,438 units in April 2023 from 15,286 units April 2022.

Total exports registered sales of 71,663 units in April 2023 as against 113,427 units April 2022, down 37% on YoY basis. Two-wheeler exports accounted for a little over 86% of the total exports of the company.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

The company reported 22% rise in standalone net profit to Rs 353 crore on a 15% increase in revenue to Rs 6,545 crore in Q3 FY23 over Q3 FY22.

The scrip gained 0.45% to currently trade at Rs 1142.25 on the BSE.

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