by TVS Motor Company had a great start to the new year in all areas of its two-wheeler business. The company has reported higher sales throughout its motorcycle and scooter lines, as well as positive sales in both local and international markets. The business has also seen success with its electric two-wheeler, the iQube, which saw a 33 percent year-over-year rise in January 2024.
TVS Motor Domestic Sales January 2024
The total number of two-wheelers that TVS Motor sold in January 2024—both domestically and internationally—represented a YoY increase of 21.37 percent. In January 2024, sales climbed from 2,58,691 units sold in January 2023 to 3,29,005 units sold. Sales of TVS Motors increased by 26.20 percent year over year to 2,68,143 units in January 2024 from 2,12,471 units sold in the same month in 2023. There was a 55,672 unit increase in volume.
With 74,225 units sold last month, the Jupiter scooter garnered the most attention in domestic markets. This represented a YoY increase of 36.23 percent over the 54,484 units sold in January 2023. Additionally, the Jupiter surpassed the Suzuki Access and Ola S1 by a considerable margin to rank as the nation’s second best-selling scooter. The Ntorq was ranked number five on this list as well.
TVS Raider
The demand for TVS Raider has also surged; 43,331 units were sold last month, representing an 86.51 percent YoY increase over the 23,233 units sold in January 2023. The XL came in second with 42,036 sales last month, up 14.47 percent from 36,723 sales in January 2023. Sales of TVS Apaches were 31,222 units in the previous month.Additionally, it ranked No. 7 on the list of the top 10 motorcycles, surpassing by a small margin the sales of the Hero Passion and RE Classic.
Sales of TVS Ntorq increased 11.76 percent year over year to 27,227 units, while sales of iQube, the company’s only electric scooter, increased by 27.88 percent to 15,562 units in January 2023. In terms of electric two-wheeler sales last month, TVS iQube was ranked No. 2. The Radeon saw sales of 11,916 units last month, representing a 32.93 percent YoY gain, while Sport saw sales of 10,229 units, a 4.70 percent YoY decline. Sales of the Star City decreased by 34.78 percent to 2,089 units in January 2024, despite TVS Zest posting a 58.89 percent YoY gain to 7,560 units. Along with 697 R 310 units, the relatively new Ronin also made the list with 2,049 sales.
TVS Exports January 2024
TVS Motor’s exports increased from 46,220 units sold in January 2023 to 60,862 units in January 2024, a 31.68 percent increase. There was a 14,642 unit increase in volume. The Star City 125 garnered the greatest interest worldwide last month, selling 32,743 copies—a 99.66 percent increase over the 16,399 units sold in January 2023. As of right now, its percentage on the export list of the corporation is 53.80%.
Compared to all other models on this list, the Apache’s exports increased by the most percentage, at 184.61%. 9,725 units were sent last month, which is more than the 3,417 units that were exported in January 2023. Additionally, Jupiter scooter (4,830 units) and TVS Sport (6,717 units) reported YoY growth rates of 105.04 percent and 43.88 percent, respectively. To 4,285 units, raider exports increased by 49.93 percent. Ntorq exports decreased by 18.65 percent to 2,172 units last month. Lower on the export list were TVS Ronin (328 units) and R 310 (62 units).
