TVS Motor total sales climb 12% YoY in May'24

TVS Motor Company said that its total sales jumped 12% to 369,914 units in May 2024 as compared with 330,609 units in May 2023.

Total two-wheelers registered a growth of 13% with sales increasing from 319,295 units in May 2023 to 359,590 units in May 2024. Domestic two-wheeler registered growth of 7% with sales increasing from 252,690 units in May 2023 to 271,140 units in May 2024.

Motorcycles sales stood at 173,627 units in May 2024, registering the growth of 7% as compared with Rs 162,248 units in May 2023. Scooter sales registered a growth of 20% with sales increasing from 121,156 units in the month of May 2023 to 145,305 units in May 2024.

Electric vehicles grew by 4% with sales increasing from 17,953 units in May 2023 to 18,674 units in May 2024.

The company's total exports grew by 27% with sales increasing from 76,607 units in May 2023 to 96,966 units in May 2024. Two-wheeler exports grew by 33% with sales increasing from 66,605 units in May 2023 to 88,450 units in May 2024.

The companys three-wheeler registered sales of 10,324 units in May 2024, up 9.59% as compared with 11,314 units in May 2023.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland.

TVS Motor Company has reported 18% rise in standalone net profit to Rs 485 crore in Q4 FY24 from Rs 410 crore in Q4 FY23. Revenue from operations in the quarter ended March 2024 grew by 24% at Rs 8,169 crore against Rs 6,605 crore in the quarter ended March 2023.

The scrip declined 2.30% to end at Rs 2,178.80 on Friday, 31 May 2024.

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