Hot Pursuit     02-Jun-23
TVS Motor gains after May sales rises 9% YoY
TVS Motor Company rose 1.56% to Rs 1291.60 after the 2-wheeler maker's total sales rose by 9% in May 2023 with sales of 330,609 units as against 302,982 units sold in May 2022.

Total two-wheelers sales grew by 11% to 319,295 units in May 2023 from 287,058 units sold in May 2022. Domestic two-wheeler sales stood at 252,690 units in May 2023, registering a growth of 32% from 191,482 units sold in the same period last year.

Motorcycle registered sales of 162,248 units in May 2023, advancing 9% as against 148,560 units sold in May 2022. Scooter sales of the company reported 103,203 units in May 2023 as compared to the sale of 100,665 units in May 2022, recording a growth of 3%.

The company's total exports dropped 30.51% to 76,607 units in May 2023 as against 110,245 units in May 2022. Two-wheeler exports tumbled 30.31% to 66,605 units in May 2023 from 95,576 units sold in the same period a year ago.

In the three-wheeler segment, the sales of the company reduced by 28.95% to 11,314 units in May 2023 from 15,924 units in May 2022.

In the electric vehicle segment, the company sold 17,953 units of TVS iQube Electric in May 2023 as against sales of 2,637 units in May 2022. The firm said that TVS iQube has a healthy booking pipeline of over 30,000 units and it expects continued improvement of supplies in the coming months.

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 2-wheeler maker's standalone net profit jumped 49.5% to Rs 410.27 crore on 19.4% rise in revenue from operations to Rs 6,604.78 crore in Q4 FY23 over Q4 FY22.

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