TVS Motor Company has reported its highest ever monthly sales in September 2024, marking a significant 20% year-on-year growth. The company sold 4,82,495 units in September 2024, up from 4,02,553 units in the same month last year.
Two-Wheeler Segment Drives Growth
The two-wheeler segment was the primary driver of this growth, with sales increasing by 22% from 3,86,955 units in September 2023 to 4,71,792 units in September 2024. Domestic two-wheeler sales surged by 23%, from 3,00,493 units to 3,69,138 units. Motorcycle sales rose by 23% from 1,86,438 units to 2,29,268 units, while scooter sales grew by 20% from 1,55,526 units to 1,86,751 units.
Electric Vehicle Sales Soar
TVS Motor Company's electric vehicle (EV) sales witnessed an impressive 42% growth, with sales increasing from 20,356 units in September 2023 to 28,901 units in September 2024.
International Business and Three-Wheeler Segment
The company's international business reported an 11% growth in total exports, with sales rising from 1,00,294 units in September 2023 to 1,11,007 units in September 2024. Two-wheeler exports grew by 19% from 86,462 units to 1,02,654 units. However, the three-wheeler segment experienced a decline in sales, with 10,703 units sold in September 2024 compared to 15,598 units in September 2023.
Second Quarter Sales Performance
For the second quarter of FY 2024-25, TVS Motor Company reported a 15% growth in two-wheeler sales, from 10.31 lakh units to 11.90 lakh units. Total exports grew by 11% from 2.77 lakh units to 3.09 lakh units.
The strong performance in September 2024 underscores TVS Motor Company's robust market position and its commitment to innovation, particularly in the electric vehicle segment.
