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TVS Motor sales up 9% in September 2022, iCube electric scooter sales up 6 times

TVS registered a growth of 9% last month in two-wheelers with 361,729 units sold in September 2022 as against 332,511 units sold in September 2021. Domestic two-wheeler sales increased from 244,084 units in September 2021 to 283,878 units in September 2022. This resulted in an increase of 16%.

On the other hand, when it comes to quarterly vehicle sales, the company also benefited in this segment last month. Last month’s three-wheeler sales increased from 14,645 units in September 2021 to 17,282 units in September 2022. Due to which it saw an increase of 18%.

With the entry-level motorcycle market still under pressure, TVS Motor saw a growth of only 2% in motorcycle sales, according to the company. The company sold 166,046 units in September 2021 which increased to 169,322 units in September 2022.

The company says it has made a “strong start to the festive season and expects demand to pick up further during this season.” Talking about the scooter, its sales stood at 144,356 units in September 2022 as against the sales of 104,091 units in September 2021.

TVS Motor sales up 9% in September 2022, iCube electric scooter sales up 6 times

Due to which scooters saw a spectacular growth of 39%. This figure includes 4,923 units of TVS Motor’s only electric model, the iCube. It witnessed a growth of over 6 times in sales as compared to 766 units sold in September 2021.

The company’s total export figures declined on the back of good sales figures in the domestic market. The company has registered sales of 92,975 units in September 2022 as against 102,259 units in September 2021. On the other hand, two-wheeler exports saw sales of 77,851 units in September 2022, compared to 88,427 units sold in September 2021.

Regarding sales in the overseas markets, TVS Motor says that it expects an improvement in sales. The company believes that there has been a marginal improvement in sales on the international markets front, however, challenges still remain with the economic slowdown and high inflation.

During the second quarter of the current financial year, two-wheelers registered a growth of 12% with 9.77 lakh units sold as against 8.70 lakh units sold in the second quarter of FY 21-22. The company’s three-wheelers registered a growth of 7% with sales of 0.51 lakh units in the second quarter of the current year as against 0.47 lakh units in the second quarter of FY 21-22.

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