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TVS Motor April 2024 Sales reached 3.03 Lakh Units- Raider, iQube, Ntorq
TVS Motor Company's April 2024 sales report reveals growth across segments, with slight declines. Motorcycle and scooter sales surged, while electric scooters exhibited remarkable growth.
Key Highlights:
- TVS April sales reached 3,03,107 units in April 2024.
- Motorcycle segment witnessed a 9.61% MoM increase.
- Electric scooter segment showcases 14.12% MoM growth.
TVS Motor Company’s April sales report has been disclosed. From the sales report it can be said the company has highlighted growth across multiple segments, as well as slight decline in some segments. Overall TVS’s performance has given the company a competitive edge in the two wheeler as well as three wheeler segment.
TVS Month-on-Month (MoM) Sales Overview
Particulars | April’24 | March’24 | Difference | Growth% MoM |
Motorcycle | 1,88,110 | 1,71,611 | 16,499 | 9.61 |
Scooter | 1,44,126 | 1,31,472 | 12,654 | 9.62 |
E-Scooter | 17,403 | 15,250 | 2,153 | 14.12 |
Moped | 42,356 | 41,363 | 993 | 2.40 |
2W Domestic | 3,01,449 | 2,60,532 | 40,917 | 15.71 |
2W Exports | 73,143 | 83,914 | -10,771 | -12.84 |
2W Total | 3,74,592 | 3,44,446 | 30,146 | 8.75 |
Particulars 3W | April’24 | March’24 | Difference | Growth% MoM |
Domestic | 1,658 | 2,088 | -430 | -20.59 |
Export | 7,365 | 8,058 | -693 | -8.60 |
Total | 9,023 | 10,146 | -1,123 | -11.07 |
Particulars (2+3W) | April’24 | March’24 | Difference | Growth% MoM |
Domestic | 3,03,107 | 2,62,620 | 40,487 | 15.42 |
Export | 80,508 | 91,972 | -11,464 | -12.46 |
Total | 3,83,615 | 3,54,592 | 29,023 | 8.18 |
Motorcycle Segment: April 2024 has showcased a 9.61% increase in TVS motorcycle sales compared to March 2024. This growth amounted to 16,499 additional units sold by TVS in April 2024, proving a sustained consumer demand and brand preference among consumers.
Scooter Segment: Scooter sales increased by 9.62% in April 2024 compared to March 2024. The growth signifies a constant consumer preference in TVS scooters, all thanks to models like Jupiter and Ntorq.
Electric Scooter Segment: TVS experienced an impressive two-digit sales rate increment of 14.12% in e-scooter sales from March to April 2024. iQube along with TVS X model still continues to gain interest from many sustainable mobility solution seekers.
Moped Segment: Moped sales saw a modest yet noteworthy growth of 2.40% in April 2024 compared to March 2024. TVS's XL100 model has maintained its popularity among consumers, driving sales in this segment.
Domestic and Export Performance: Domestic two-wheeler sales surged by 15.71% from March 2024 to April 2024. However, there was a decline of 12.84% in two-wheeler exports during the same period.
Three-wheeler sales, both domestically and in exports, witnessed declines, these areas can be considered as the target areas for an improved and better performance in next month's sales report.
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TVS Year-on-Year (YoY) Sales Overview
Particulars | April’24 | April’23 | Difference | Growth% YoY |
Motorcycle | 1,88,110 | 1,52,365 | 35,745 | 23.46 |
Scooter | 1,44,126 | 1,07,496 | 36,630 | 34.08 |
E-Scooter | 17,403 | 6,227 | 11,176 | 179.48 |
Moped | 42,356 | 34,925 | 7,431 | 21.28 |
2W Domestic | 3,01,449 | 2,32,956 | 68,493 | 29.40 |
2W Exports | 73,143 | 61,830 | 11,313 | 18.30 |
2W Total | 3,74,592 | 2,94,786 | 79,806 | 27.07 |
Particulars 3W | April’24 | April’23 | Difference | Growth% YoY |
Domestic | 1,658 | 1,605 | 53 | 3.30 |
Export | 7,365 | 9,833 | -2,468 | -25.10 |
Total | 9,023 | 11,438 | -2,415 | -21.11 |
Particulars (2+3W) | April’24 | April’23 | Difference | Growth% YoY |
Domestic | 3,03,107 | 2,34,561 | 68,546 | 29.22 |
Export | 80,508 | 71,663 | 8,845 | 12.34 |
Total | 3,83,615 | 3,06,224 | 77,391 | 25.27 |
Motorcycle Segment: TVS has witnessed a significant 23.46% YoY increase in motorcycle sales in April 2024 compared to April 2023. This growth highlights the brand's dominance and popularity in the motorcycle segment in India.
Scooter Segment: Scooter sales surged by an impressive 34.08% in April 2024 compared to the same period last year. TVS's scooters continue to resonate well with consumers, contributing to the brand's strong market share of 38.48%.
Electric Scooter Segment: The e-scooter segment witnessed exponential growth, with sales showcasing impressive growth of 179.48% in April 2024 compared to April 2023. This remarkable performance highlights the increasing acceptance of EVs with the prominent offering of iQube by TVS.
Moped Segment: Moped sales saw a 21.28% increase in April 2024 compared to April 2023.
Domestic and Export Performance: In Domestic market, TVS Motor Company reported higher growth, with total two-wheeler sales increasing by 29.40% in April 2024 compared to April 2023. In case of exports, sales has witnessed growth of 12.34% on YoY basis, reflecting improved and highlighting competitive TVS's global expansion efforts.
TVS Product Line
At present TVS offers product line in five segments, naming, motorcycle, scooter, mopeds, electric, and three-wheelers.
PRODUCT | MODELS |
Electric Scooter | |
Moped | |
Three-Wheelers | King |
CarBike360 Says
The MoM and YoY sales have highlighted TVS Motor Company's consistent growth and market dominance across various segments. Though the motorcycle and scooter segments continue to drive sales, the exponential growth in electric scooters further strengthen the company's future plan toward sustainable mobility.
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