TVS Sales in October 2024 - Company Registers High Sales in Electric Vehicles

TVS Motor Company is one of the leading two-wheeler and three-wheeler manufacturers in the country. The company has reported impressive sales figures for October 2024, marking a significant year-on-year growth. With a total of 3,51,950 units sold across two-wheelers, TVS recorded an increase over the sold units in October 2023. The company also saw a marginal MoM growth in 2-Wheelers from September 2024. The highlight of the month was TVS's electric vehicle (EV) sales, which saw the highest-ever monthly sales compared to the same month last year, signaling strong consumer adoption of electric two-wheelers.

TVS Sales in October 2024 - Sales Record

• Total Sales (October 2024): 3,51,950 units
• Market Share (October 2024): 17.04%

TVS MOTOR COMPANY LTD 2W October 2024 Sales Comparison with October 2023

TVS MOTOR COMPANY LTD 2W October 2024 Sales Key Insights

1. Sales Growth (Year-over-Year):

• Sales Increase: TVS has sold 99,591 more units in October 2024 than in October 2023. This indicates strong sales growth.
• Percentage Growth: The increase in sales from 2,52,359 units in October 2023 to 3,51,950 units in October 2024 represents a 39.5% growth year-over-year.

2. Market Share Expansion:

• Market Share Increase: TVS's market share has grown from 16.66% in October 2023 to 17.04% in October 2024.
• Percentage Point Growth: This is an increase of 0.38 percentage points, signaling that TVS is gaining a stronger foothold in the two-wheeler market compared to its competitors.

3. Implications of the Performance:

• Strong Growth: A 39.5% increase in sales volume is significant, especially in the competitive two-wheeler industry, suggesting that TVS's products are resonating well with consumers.
• Market Share Gains: The 0.38% increase in market share is a good sign that TVS is outperforming or at least maintaining pace with the overall market growth, possibly by capitalizing on new model launches, brand strength, or successful marketing strategies.

Factors Likely Contributing to Growth:

• Product Portfolio: TVS has a diverse portfolio across scooters, motorcycles, and electric vehicles (EVs). The company’s electric scooter segment (like the TVS iQube) may be contributing to growth, as demand for electric vehicles continues to rise in India.
• Strong Demand Post-Pandemic: The two-wheeler market in India has seen a recovery following the pandemic, and TVS has likely capitalized on this recovery.
• Retail Expansion: Increased sales could also be a result of TVS expanding its retail network or improving its after-sales service experience, making their products more accessible to consumers.

TVS Motor Company has shown remarkable growth in October 2024, with a 39.5% increase in sales volume and a 0.38% market share gain. This growth could be attributed to factors such as strategic product launches including the new TVS Raider 125 iGO, effective product strategies, strong consumer demand, and a diverse portfolio that includes both traditional and electric two-wheelers.

With double-digit growth across multiple segments and a notable uptick in export sales, TVS Motor is well-positioned to continue its upward trajectory as it adapts to changing consumer preferences, particularly in the EV space.