TVS Motors September sales grow 6% YoY to 4.2 lakh units

livemint.com:

TVS Motor Company, the two-and three-wheeler manufacturer, reported a growth of 6% in total sales for the month September 2023 at 402,553 units as against 379,011 units in the same month last year. The company’s total two-wheelers grew 7% to 386,955 units in September 2023 from 361,729 units in September 2022. Domestic two-wheeler registered growth of 6% YoY to 300,493 units during the month.

Also Read: ONGC may invest $20 bn to set up 2 petchem plants Motorcycle sales rose 10% to 186,438 units from 169,322 units, while scooter sales increased 8% to 155,526 units from 144,356 units, YoY. The company sold 20,356 units of TVS iQube Electric in September 2023 as against sales of 4,923 units in September 2022. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Three-wheeler sales declined to 15,598 units as against 17,282 units in September 2022.

Total exports registered a growth of 8% with sales increasing from 92,975 units in September 2022 to 100,294 units in September 2023. Two-wheeler exports registered a growth of 11% to 86,462 units in September 2023. Both retails and dispatch have begun to improve in the IB markets, the company said.

Also Read: SAIL aims to invest ₹5,500 cr in FY24 Meanwhile, during the second quarter of FY24, two-wheelers posted a growth of 6% with sales of 10.31 lakh units as against sales of 9.77 lakh units in the second quarter FY23. Three-wheeler sales declined to 0.43 lakh units in Q3FY24 from 0.51 lakh units, YoY. On Friday, TVS Motor Company share price ended 0.02% lower at ₹1,523.00 apiece on the BSE."Exciting news! Mint is now on WhatsApp Channels