TVS Motor Company Achieves Remarkable Sales Milestone in October 2023
In October 2023, TVS Motor Company's accomplishments underscore its dedication to innovation, product quality, and adapting to customers' evolving demands worldwide.
TVS Motor Company, a leading player in the Indian automotive industry, has recently made headlines with its exceptional performance in the month of October. The company reported its highest-ever monthly sales, marking a significant milestone in its journey. In October 2023, TVS Motor Company recorded an impressive 434,714 units in sales, showcasing its continued growth and market strength.
Motorcycle sales took center stage in this remarkable feat, with 201,965 units sold in October 2023, compared to 164,568 units during the same period in the previous year. This surge in motorcycle sales represents a substantial 23% increase year-on-year, signifying the brand's enduring appeal to customers. Additionally, scooter sales also showed a substantial rise, increasing by 22% in comparison to the previous year.
The total two-wheeler sales for TVS Motor Company displayed impressive growth, soaring by 22% to reach 420,610 units, a substantial increase from the 344,630 units sold in October 2022. In the domestic market, two-wheeler sales were equally impressive, rising by 25% to 344,957 units compared to 275,934 units in the same month a year ago.
One of the highlights of TVS Motor Company's success story in October was the surge in sales of the TVS iQube electric scooter. Last month, the company sold an impressive 20,153 units of the iQube, a stark contrast to the 8,103 units sold in October 2022. This exponential growth highlights the increasing popularity of electric mobility solutions in the market.
In the three-wheeler segment, TVS Motor Company recorded sales of 14,104 units in October 2023, slightly down from the 15,658 units sold in October 2022, but the company remains a significant player in this segment.
TVS Motor Company's accomplishments were not limited to the domestic market. In the international arena, the company reported a 6% growth in exports. The total number of units exported increased to 87,952 in October 2023, up from 82,816 units in the same month in the previous year. This underlines the company's commitment to expanding its global footprint and making its mark in international markets.
When focusing on two-wheeler exports, the growth was even more pronounced, with a remarkable 10% increase. In October 2023, the company exported 75,653 units, a significant leap from the 68,696 units exported in October 2022. This reflects TVS Motor Company's ability to compete on a global scale and meet the demands of international consumers.
In addition to its strong sales performance, TVS Motor Company also introduced the Ronin Special Edition, a retro motorcycle that received cosmetic and feature upgrades. Available at a starting ex-showroom price of Rs 1.73 lakh, the Ronin Special Edition boasts a new Nimbus Gray shade with distinctive body graphics, setting it apart from the standard variant. The motorcycle features a triple-tone color scheme with a gray base, complemented by white and red stripes on the fuel tank and side panels.