TVS Motor posts 25% increase in sales in April over corresponding period last year

TVS Motor, which manufactures two-wheeler and three-wheeler vehicles, has registered a 25 per cent growth in sales in April, having sold 3,83,615 units this year compared to 3,06,224 units during the same month last year, the company said on Wednesday. Sales of total two-wheelers made in April this year went up by 27 per cent to 3,74,592 units, from 2,94,786 units sold in April 2023.

Sales of two-wheelers in the domestic market also grew by 29 per cent to 3,01,449 units in April this year compared to 2,32,956 units sales made in same month of last year. Motorcycle sales recorded a growth of 24 per cent in April 2024 at 1,88,110 units, from 1,52,365 units retailed in April 2023. 

Sales of scooters in April 2024 grew by 34 per cent to 1,44,126 units as against 1,07,496 units made in April 2023. Meanwhile, sales of three-wheelers in April declined to 9,023 units compared to 11,438 units sold in the same month last year. In he electric vehicle business, sales surged to 17,403 units in April 2024 compared to 6,227 units in the same month last year.

"The new Electric Mobility Promotion Scheme (EMPS) 2024 came into effect from April 2024 after FAME II ended in March 2024. Ensuring a smooth transition, TVS Motor recorded electric vehicle sales of 17,403 units in April 2024, indicating continued robust demand," the company said in a statement.

On sales made overseas, TVS Motor said its total exports grew by 12 per cent to 80,508 units in April this year, from 71,663 units shipped in the same month last year. Two-wheeler exports made in April 2024 rose by 18 per cent to 73,143 units, from 61,830 units in April 2023, the statement added.