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TVS Motor hits record high as total sales climb 9% YoY in Jul'24

Last Updated : Aug 01 2024 | 4:50 PM IST

TVS Motor Company rallied 2.16% to Rs 2,584.90 after its total sales rose 9% to 354,140 units in July 2024 as compared with 325,977 units in July 2023.

Total two-wheelers registered a growth of 9% with sales increasing from 312,307 units in July 2023 to 339,676 units in July 2024. Domestic two-wheeler registered growth of 8% with sales increasing from 235,230 units in July 2023 to 254,250 units in July 2024.

Motorcycles sales stood at 161,074 units in July 2024, registering the growth of 5% as compared with Rs 153,942 units in July 2023. Scooter sales registered a growth of 15% with sales increasing from 121,941 units in the month of July 2023 to 139,995 units in July 2024.

Electric vehicles grew by 61% with sales increasing from 13,306 units in July 2023 to 21,442 units in July 2024.

The company's total exports grew by 9% with sales increasing from 89,213 units in July 2023 to 97,589 units in July 2024. Two-wheeler exports grew by 11% with sales increasing from 77,077 units in July 2024 to 85,426 units in July 2024.

The companys three-wheeler registered sales of 14,464 units in July 2024, up 6% as compared with 13,670 units in July 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.