TVS revealed its sales performance for the month of July 2022 recording a 13% growth in sales year on year. The auto manufacturer recorded cumulative sales of 3,14,639 units in the month about 2% higher than what it achieved in June 2022. The company recorded growth almost across the board on a year-on-year basis though sales of three-wheelers were down as compared to July 2021.
TVS said that the growth in numbers was in part due to the company investing in “strategic relationships and action plans” for the supply of semiconductors which continued to improve. The brand is also confident of further improving supplies in the coming months.
Motorcycles sales in the domestic market were up 8% with overall two-wheeler sales crossing the 2 lakh mark.
Cumulative sales for two-wheelers were up 14% year-on-year, rising from 2,62,728 units in July 2021 to 2,99,658 units. The numbers were also 2% higher than cumulative two-wheeler sales in June 2022. Two-wheeler sales in the domestic market crossed the 2-lakh unit mark in the month with 2,01,942 units sold, up 15% from 1,75,169 units sold in the same month last year.
Motorcycle sales were up just 8% year-on-year to 1,50,340 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 2.5% and about 5% respectively.
Three-wheelers were the only segment to see sales decline with the company registering sales of 14,981 units as against 16,127 units in July 2021 (down 7%).
iQube sales were up 35% month-on-month to 6,304 units
Coming to exports, TVS said its cumulative exports amounted to 1,12,032 units vis-à-vis 1,03,133 units in July 2021 – up 9% year-on-year but down 2% month-on-month.
On the EV front, the company said that it had received a good response to the recently launched 2022 TVS iQube. The company said it foresaw the demand for its electric scooter to grow in the future with the company reporting sales of 6,304 units in the month – up 35% from June 2022.
