TVS Motor Company revealed a 5% sales growth for June 2024, compared to the same period in the previous year.
What Happened: As per a press release on Monday, the company’s total sales for June 2024 stood at 3.33 lakh units. This indicates a 5% growth from the 3.16 lakh units sold in June 2023.
The two-wheeler segment of the company experienced a 6% growth, with sales escalating from 3.04 lakh units in June 2023 to 3.22 lakh units in June 2024. Domestic two-wheeler sales recorded an 8% growth, while motorcycles and scooters saw a 3% and 6% increase, respectively.
| Category | June 2024 Sales | June 2023 Sales | % Growth |
|---|---|---|---|
| Total Sales | 333,646 | 316,411 | 5% |
| Total Two-Wheelers | 322,168 | 304,401 | 6% |
| – Domestic Two-Wheelers | 255,734 | 235,833 | 8% |
| – Motorcycles | 152,701 | 148,208 | 3% |
| – Scooters | 128,986 | 121,364 | 6% |
| Electric Vehicles | 15,859 | 14,462 | 10% |
| International Business | 76,074 | 79,144 | -4% |
| – Two-Wheeler Exports | 66,434 | 68,568 | -3% |
| Three-Wheelers | 11,478 | 12,010 | -4% |
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The company’s electric vehicle (EV) sales also registered a significant 10% growth, with sales rising from 14,462 units in June 2023 to 15,859 units in June 2024.
However, the company’s total exports experienced a slight decline, with sales of 76,074 units in June 2024 as against 79,144 units in June 2023. This was attributed to challenges in container availability due to conditions in the Red Sea.
Additionally, three-wheeler sales also witnessed a marginal decrease, registering sales of 11,478 units in June 2024 as against 12,010 units in June 2023.
Why It Matters: The company’s competitor Bajaj Auto also reported a 5% increase in its sales for June 2024, with total sales reaching 3.58 lakh vehicles, up from 3.40 lakh units sold in June 2023.
Read Next: Tata Motors’ Domestic Sales Down 7% In June, EV Sales Tank 34%
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