TVS Motor sales rise to 2,75,115 units in January

Mumbai: TVS Motor Company said its vehicle sales grew 3 per cent in the domestic market at 2,75,115 units in January.

The company posted its vehicle sales at 2,66,788 units in the year-ago period.

Its total two-wheeler sales registered a growth of 4 per cent at 2,64,710 units in January from 2,54,139 units last year, aided by a 29 per cent growth in the domestic two-wheeler sales, which stood at 2,16,471 units in the reporting month, the company said in a statement.

In the two-wheeler sales, motorcycle sales volume dropped 12 per cent at 1,21,042 units in the previous month as against 1,37,630 units in 2022.

Scooter sales, however, was up 32 per cent at 1,06,537 units during the month under review from 80,580 units last year, TVS said.

The electric scooter iQube recorded its highest-ever sales of 12,169 units last month as against sales of 1,529 units in January 2022, according to the company.

The total sales in the overseas market reported a sharp declined of 42 per cent at 57,024 units in the last month as compared to 97,858 units in 2022, owing to a 44 per cent fall in the two-wheeler exports, which stood at 48,239 units during the reporting period.

Given the macro-economic uncertainties in a few international markets, the company has reduced stock to enable the channel partners, the company said, adding that customer retails continue to be well ahead of the dispatches.