TVS reported its sales performance for the month of August 2022 recording a 15 per cent year-over-year growth in sales. The auto manufacturer recorded cumulative sales of 315,539 units in the month, and the number stayed relatively similar to the 3,14,639 units sold in July 2022, with a small growth of 0.3 per cent, month-on-month. The company recorded growth across the board on a year-on-year basis in the domestic market, though the sales in international markets were down by 15.3 per cent as compared to August 2021.
“While some geographies in the international market are experiencing economic slowdown and higher inflation, the Company is optimistic about the sales momentum returning to normal levels gradually”, TVS explained.
Motorcycles sales in the domestic market were up 17% with overall two-wheeler sales exceeding the 2.75 lakh mark.
Cumulative sales for two-wheelers were up 26.3% year-on-year, rising from 2,20,848 units in August 2021 to 2,78,984 units. The numbers though skid 6.9% compared to July 2022. Two-wheeler sales in the domestic market crossed the two-lakh unit mark in the month with 239,325 units sold, up 33% from 179,999 units sold in the same month last year.
Motorcycle sales were up 17% year-on-year to 1,57,118 units though it was the scooters that saw some notable growth. Scooter sales for the month stood at 1,10,196 units, up 49% over July 2021. Month-on-month, the two segments grew by 4.5% and about 10.6% respectively.
Three-wheelers saw a growth too, registering sales of 18,248 units as against 16,381 units in August, registering an 11 per cent YoY growth and a 21.8 per cent MoM growth.
iQube sales were up 35% month-on-month to 6,304 units
On the EV front, the company sold 4,418 units of the iQube electric scooter, which was a 580 per cent increase over the same time last year, but a 30 per cent month-over-month decrease.
