Two-wheeler exports grew by 13%
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) says its total exports grew by 8% to 85,391 vehicles in December 2023 from 79,402 units registered in December 2022 and it is expecting further improvement in the intenational markets.
“Two-wheeler exports registered a growth of 13% with sales increasing to 75,076 units in December 2023 from 66,297 units registered in December 2022. The international markets have shown positive growth and the momentum will further improve,” TVS reported on 2 Jan 2024.
The company recorded monthly sales of 301,898 units in December 2023 with a growth of 25% as against 242,012 units in the month of December 2022.
Total two-wheelers registered a growth of 27% with sales increasing from 227,666 units in December 2022 to 290,064 units in December 2023. Domestic two-wheeler registered growth of 33% with sales increasing from 161,369 units in December 2022 to 214,988 units in December 2023.
Motorcycle registered a growth of 19% with December sales increasing to 148,049 units, up from 124,705 units sold in Dec of last year. Scooter registered a growth of 34% as it sold 103,167 units in Dec 2023 compared to 76,766 sold in the same month of last year.
The company sold 11,232 units in December 2023 as against sales of 11,071 units in December 2022.
The company’s sales of three-wheeler totalled 11,834 units in December 2023 as against 14,346 units in Dec 2022.
During the third quarter of the current financial year, two-wheelers posted a robust growth of 27% with sales of 10.6 lakh units as against sales of 8.4 lakh units in the third quarter of FY 22-23.
Three-wheeler of the company registered sales of 0.38 lakh units in the third quarter of the current year as against 0.43 lakh units in the third quarter of FY 22-23.
Two-wheeler sales included EV sales of 0.48 lakh units in the third quarter of FY 23-24 as against 0.29 lakh units in the third quarter of FY 22-23, a growth of 65%. Fiinews.com
