TVS Motor Company registered a sales growth of 3% increasing from 308,501 units in June 2022 to 316,411 units in June 2023, the company announced through an exchange filing.
Total two-wheelers registered a growth of 4% with sales increasing from 293,715 units in June 2022 to 304,401 units in June 2023. Domestic two-wheeler registered growth of 22% with sales increasing from 193,090 units in June 2022 to 235,833 units in June 2023.
Motorcycle registered sales growth of 2% with sales increasing from 146,075 units in June 2022 to 148,208 units in June 2023. Scooter sales registered a growth of 11% with sales increasing from 109,878 units in the month of June 2022 to 121,364 units in June 2023.
TVS iQube Electric recorded sales of 14,462 units in June 2023 as against sales of 4,667 units in June 2022.
The first two weeks of June witnessed a decline in EV two-wheeler industry sales due to readjustment in prices owing to the reduction in FAME II subsidy. However, TVS iQube's order book remains very healthy. We are already seeing a pick up in sales and are confident of continued improvement in the coming months.
The Company's total exports registered sales of 79,144 units in June 2023 as against 114,449 units June 2022. Two-wheeler exports registered sales of 68,568 units in June 2023 as against 100,625 units June 2022.
Three-wheelers of the Company registered sales of 12,010 units in June 2023 as against 14,786 units June 2022.
First Quarter Sales Performance
During the first quarter of the current financial year, two-wheeler sales grew by 7% increasing from 8.6 lakh units in the first quarter FY 22-23 to 9.18 lakh units in the current quarter. Three-wheeler of the Company registered 0.35 units in the current quarter as against 0.46 lakh units in the first quarter of FY 22-23.