TVS Motor Company sales grow by 22% in June 2022, sells 308,501 units

Indian multinational motorcycle manufacturer TVS Motor Company today reported that it has registered a growth of 22% in June 2022 with sales of 308,501 units as against 251,886 units in June 2021.

TVS

The company’s total two-wheeler sales registered a growth of 23% with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022.

Domestic two-wheelers registered a growth of 33% with sales increasing from 145,413 units in June 2021 to 193,090 units in June 2022, according to a regulatory filing of the company.

The domestic two-wheeler sales in June 2022 included the 4,667 units of TVS iQube Electric, the highest-ever with a 77% growth over May 2022, the company reported.

The motorcycle segment of the manufacturer registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021.

Meanwhile, scooter sales grew from 53,956 units in June 2021 to 105,211 units in June 2022.

According to a company statement, the shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. “We are working aggressively with alternative sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels as semiconductor supplies continue to improve,” the company said.

TVS’s total exports grew by 8% from 106,246 units in June 2021 to 114,449 units in June 2022. The two-wheeler exports grew by 9% from 92,679 units in June 2021 to 100,625 units in June 2022.

The three-wheeler sales of the company grew by 7% from 13,794 units in June 2021 to 14,786 units in June 2022.

During Q1 FY23, two-wheeler sales grew by 39% increasing from 6.2 lakh units in Q1 FY22 to 8.6 lakh units in the current quarter. Three-wheelers of the company registered a growth of 18% increasing from 0.39 lakh units in the first quarter of FY22 to 0.46 lakh units in the first quarter of the current year.