- TVS sales increase by 85 per cent
- Exports drop marginally
- Recently introduced the new iQube e-scooter
TVS Motor Company has witnessed significant growth in sales for May 2022 when it sold 2.87 lakh motorcycles and scooters in India as well as domestic markets. In comparison, the manufacturer sold 1.54 lakh units in May 2021, registering an 85 per cent growth.
Now, out of the total number of units sold by TVS, 1.91 lakh motorcycles and scooters were sold in India itself. This is a huge jump from the 52,084 two-wheelers sold in May ’21 wherein the government implemented a nationwide lockdown. Exports however have taken a marginal hit going from 1.02 lakh in May last year to 95,576 units sold overseas last month.
Nonetheless, TVS’ motorcycles witnessed an 18.6 per cent increase in May 2022 as compared to May 2021 with 1.48 lakh units sold. Meanwhile, scooters also grew substantially from 19,627 sold in May ’21 to 1 lakh units sold in May ’22. Now, TVS is looking to work aggressively to improve the semiconductor supply which has impacted the production and sales of two-wheelers. While it says to have seen an improvement this month, the company says that it is optimistic that volumes will revive to normal levels soon.
In other news, TVS recently launched the updated iQube electric scooter in India in three variants that get different features and riding ranges. The updates are quite significant, and we are waiting to ride the scooters soon. Stay tuned for our review!