TVS Motors reported a 9% sales growth in July, driven by its diverse portfolio of mopeds, motorcycles, scooters, and three-wheelers in both domestic and export markets.
TVS Motor Company has reported impressive growth in its vehicle sales for July 2024. The company’s diverse portfolio, spanning mopeds, motorcycles, scooters, and three-wheelers, showed strong performance across both domestic and export markets. Below is a detailed breakdown of the sales figures and growth percentages for the month.
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Moped and Two-Wheeler Sales
Moped Sales: In July 2024, TVS sold 38,607 mopeds, a 5.99% increase from 36,424 units in July 2023. However, there was a 4.63% decline from June 2024, when 40,481 units were sold. Mopeds contributed to 11.37% of TVS’ total sales in July 2024.
Domestic Two-Wheeler Sales: TVS’ domestic two-wheeler sales in July 2024 reached 254,250 units, marking an 8.09% increase from 235,230 units in July 2023. However, there was a slight month-over-month decline of 0.58% from June 2024, when 255,734 units were sold. This segment accounted for 74.85% of total TVS domestic sales for July 2024.
Two-Wheeler Exports: In the export market, two-wheeler sales in July 2024 were 85,426 units, reflecting a 10.83% growth from 77,077 units in July 2023 and a substantial 28.59% increase from 66,434 units in June 2024. Exports accounted for 25.15% of total TVS two-wheeler sales, indicating a substantial increase in international demand.
Overall Two-Wheeler Sales: Total sales of two-wheelers for July 2024 reached 339,676 units, an 8.76% increase from 312,307 units in July 2023 and a 5.43% increase from 322,168 units in June 2024. This comprehensive figure includes both domestic and export sales, highlighting the company’s overall market performance.
Three-Wheeler Sales
Domestic Three-Wheeler Sales: Three-wheeler domestic sales in July 2024 were 2,301 units, a significant 50.00% increase from 1,534 units in July 2023 and a remarkable 90.48% increase from 1,208 units in June 2024.
Three-Wheeler Exports: Exports of three-wheelers in July 2024 were relatively stable with 12,163 units sold, showing a slight year-over-year increase of 0.22% from 12,136 units in July 2023 and an 18.43% increase from 10,270 units in June 2024.
Overall Three-Wheeler Sales: Total sales of three-wheelers in July 2024 were 14,464 units, reflecting a 5.81% increase from 13,670 units in July 2023 and a 26.01% increase from 11,478 units in June 2024. This total encompasses both domestic and export sales, indicating overall growth in the three-wheeler segment.
Combined Sales and Growth
TVS reported a combined total of 354,140 units sold in July 2024, an 8.64% increase from 325,977 units in July 2023 and a 6.14% increase from 333,646 units in June 2024. This figure highlights the company’s comprehensive market reach across different vehicle categories and reflects a balanced mix of domestic and export sales.
Conclusion
TVS Motor Company has demonstrated robust growth in both its two-wheeler and three-wheeler segments for July 2024. The company’s strategic focus on expanding its domestic market presence and increasing export volumes has yielded positive results, positioning TVS as a strong player in the automotive industry. With continuous innovation and market expansion, TVS is set to maintain its upward trajectory in the coming months.
By optimizing production and meeting diverse market demands, TVS continues to strengthen its foothold, showcasing resilience and adaptability in a competitive market.
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