The 2-wheeler maker's total sales rose by 9% in September 2022 with sales of 379,011 units as against 347,156 units in the month of September 2021.
Total two-wheelers sales grew 9% to 361,729 units in September 2022 as compared to 332,511 units sold in September 2021. Domestic two-wheeler sales stood at 283,878 units in September 2022, registering a growth of 16% from 244,084 units sold in the same period last year.
Motorcycle sales rose 2% to 169,322 units in September 2022 as against 166,046 units sold in September 2021. Scooter sales of the company registered 144,356 units in September 2022 as compared to the sale of 104,091 units in September 2021, recording a growth of 39% year on year.
TVS Motor Company has had a robust start to the festive season and the demand is expected to further accelerate during the season, the company said.
The company's total exports declined 9.08% to 92,975 units in September 2022 as against 102,259 units in September 2021. Two-wheeler exports dropped 11.96% to 77,851 units in September 2022 from 88,427 units sold in the same period a year ago.
On the international markets front, there is marginal improvement, however, the challenges with economic slowdown and higher inflation still persists. We are cautiously optimistic that the sales momentum will continue to improve, the company stated in the press release.
In the three-wheeler segment, the sales of the company surged 18% to 17,282 units in September 2022 from 14,645 units in September 2021.
In the electric vehicle segment, the company sold 4,923 units of TVS iQube Electric in September 2022 as against sales of 766 units in September 2021.
During the second quarter of the current financial year, two-wheelers posted a growth of 12% with sales of 9.77 lakh units as against sales of 8.70 lakh units in the second quarter FY 21-22. Three-wheeler of the company registered a growth of 7% with sales of 0.51 lakh units in the second quarter of the current year as against 0.47 lakh units in the second quarter of FY 21-22.
TVS Motor Company is a reputed two and three-wheeler manufacturer globally. The company has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.
The company reported a standalone net profit of Rs 321 crore in Q1 FY23 as against a net profit of Rs 53 crore in Q1 FY22. Operating revenue was Rs 6,009 crore in the quarter ended June 2022 as against Rs 3,934 crore reported in the quarter ended June 2021, up 52.7% YoY.
Shares of TVS Motor Company slipped 2.36% to Rs 1,007.15 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
