Hot Pursuit     01-Nov-23
TVS Motor records highest ever monthly sales of 434,714 units in Oct’23
The 2-wheeler maker has reported its highest ever monthly sales of 434,714 units in October 2023, registering a growth of 21% as against 360,288 units sold in October 2022.

Total two-wheelers sales grew by 22% to 420,610 units in October 2023 from 344,630 units sold in October 2022. Domestic two-wheeler sales stood at 344,957 units in October 2023, up 25% as compared to 275,934 units sold in the same period a year ago.

Motorcycle registered a sales of 201,965 units in October 2023, rising 23% from 164,568 units sold in October 2022. Scooter sales of the company reported 165,135 units in October 2023 as compared to the sale of 135,190 units in October 2022, recording a growth of 22%.

The company's total exports rose 6% to 87,952 units in October 2023 as against 82,816 units in October 2022. Two-wheeler exports jumped 10% to 75,653 units in October 2023 from 68,696 units sold in the similar period last year.

In the three-wheeler segment, the sales of the company reduced by 9.92% to 14,104 units in October 2023 from 15,658 units in October 2022.

In the electric vehicle segment, the company sold 20,153 units of TVS iQube Electric in October 2023 as against sales of 8,103 units sold in October 2022.

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.

TVS Motor Company has recorded 32% growth in net profit to Rs 537 crore in Q2 FY24 from Rs 408 crore in Q2 FY23. During the quarter, the company’s operating revenue grew by 13% to Rs 8,145 crore as against Rs 7,219 crore in Q2 of last year.

Shares of TVS Motor Company declined 1.80% to close at Rs 1,562.05 on the BSE.

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