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Total two-wheelers sales increased by 5% to 332,110 units in August 2023 from 315,539 units sold in August 2022. Domestic two-wheeler sales stood at 256,619 units in August 2023, registering a growth of 7% as compared to 239,325 units sold in the same period last year.
Motorcycle registered sales of 153,047 units in August 2023, up 2.59% as against 157,118 units sold in August 2022. Scooter sales of the company reported 142,502 units in August 2023 as compared to the sale of 121,866 units in August 2022, recording a growth of 17%.
The company's total exports declined 6.01% to 87,515 units in August 2023 as against 93,111 units in August 2022. Two-wheeler exports fell 0.95% to 75,491 units in August 2023 from 76,214 units sold in the same period a year ago.
In the three-wheeler segment, the sales of the company reduced by 24.72% to 13,738 units in August 2023 from 18,248 units in August 2022.
In the electric vehicle segment, the company sold 23,887 units of TVS iQube Electric in August 2023 as against sales of 4,418 units in August 2022. The firm said that Order book for TVS iQube Electric scooter continues to be healthy.
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 surged 45.9% to Rs 467.67 crore on 20.12% rise in revenue from operations to Rs 7,217.91 crore in Q1 FY24 over Q1 FY23.
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