India’s third-largest motorcycle manufacturer TVS Motor Company, on Monday, announced that it has registered a growth of 13 per cent in July 2022 with sales of 314,639 units as against 278,855 units in July 2021.
The homegrown two-wheeler maker “has invested in strategic relationships and action plans for the supply of semiconductors and the efforts are yielding results with improvements seen this month as well. We are very confident of the supplies improving further,” said TVS in a press release.
The company’s two-wheeler business registered a growth of 14 per cent in July 2022 with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022.
TVS’ only electric two-wheeler ‘iQube Electric’ sold 6,304 units in July 2022, up 1067.4 per cent against 540 units in July 2021. The company also claimed that its iQube Electric, including all three versions, received a good response with customers welcoming the product and liking its features.
TVS further added that its iQube Electric’s future demand outlook is very positive and efforts on increasing the capacity and delivery are showing results. The company registered a monthly average sale of 2,908 units of its electric scooter in Q1 FY22.
TVS’ domestic two-wheeler sales registered a 15 per cent growth with sales increasing from 175,169 units in July 2021 to 201,942 units in July 2022. Its two-wheeler exports grew by 12 per cent from 87,559 units in July 2021 to 97,716 units in July 2022.
The company’s motorcycle sales also managed to record an 8 per cent growth with sales increasing from 138,772 units in July 2021 to 150,340 units in July 2022, while its scooter segment saw a growth of 49 per cent with sales increasing from 73,811 units in July 2021 to 110,196 units in July 2022.
In terms of international business, TVS’ saw a 9 per cent increase in exports from 103,133 units in July 2021 to 112,032 units in July 2022.
TVS also revealed that its three-wheeler business registered sales of 14,981 units in July 2022 as against sales of 16,127 units in July 2021.
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