TVS Motor Company Sees Big Growth in Two-Wheeler Sales in September 2024
New Delhi [India], October 1: Indian vehicle manufacturer TVS Motor Company has reported monthly sales of 482,495 units in September 2024. This marks a 20% increase from the same period last year, when the company sold 402,553 units in September 2023.
Two-Wheeler Segment
The two-wheeler segment witnessed a 22% increase in sales, with 471,792 units sold in September 2024, up from 386,955 units in September 2023. Domestic two-wheeler sales rose by 23%, reaching 369,138 units, compared to 300,493 units last year.
Motorcycles and Scooters
Motorcycle sales grew by 23%, from 186,438 units in September 2023 to 229,268 units in September 2024. Scooter sales also saw a 20% increase, rising from 155,526 units last year to 186,751 units this year.
Electric Vehicles
The electric vehicle segment experienced a significant 42% growth, with 28,901 units sold in September 2024, up from 20,356 units in September 2023.
Exports
TVS’s total exports for September 2024 reached 111,007 units, an 11% increase compared to 100,294 units in the previous year. Two-wheeler exports grew by 19%, with sales increasing from 86,462 units in September 2023 to 102,654 units in September 2024.
Three-Wheeler Segment
In contrast to the positive performance in other segments, three-wheeler sales fell to 10,703 units in September 2024, down from 15,598 units in September 2023.
Quarterly Performance
For the second quarter of FY 2024-25, TVS recorded a 15% growth in two-wheeler sales, with 11.90 lakh units sold compared to 10.31 lakh units in the second quarter of FY 2023-24. However, the three-wheeler segment saw a decline, with 0.38 lakh units sold, down from 0.43 lakh units last year. Total exports for the quarter also grew by 11%, with sales increasing from 2.77 lakh units in Q2 FY 2023-24 to 3.09 lakh units in the current quarter.
Doubts Revealed
TVS Motor Company -: TVS Motor Company is an Indian company that makes vehicles like motorcycles, scooters, and three-wheelers.
Two-Wheeler -: A two-wheeler is a vehicle with two wheels, like a motorcycle or a scooter.
September 2024 -: September 2024 is a month in the year 2024.
20% increase -: A 20% increase means that the number of vehicles sold went up by 20 out of every 100 compared to before.
Units -: Units here means the number of vehicles sold.
Domestic sales -: Domestic sales are the number of vehicles sold within India.
Electric vehicle -: An electric vehicle is a vehicle that runs on electricity instead of petrol or diesel.
Three-wheeler -: A three-wheeler is a vehicle with three wheels, often used as an auto-rickshaw in India.
Exports -: Exports are goods sold to other countries.
Quarterly -: Quarterly means something that happens every three months.