TVS Sales in November 2024: 12% Growth Recorded in Total Sales

TVS Motor Company, a part of TVS Group, is one of India's leading two-wheeler and three-wheeler manufacturers. TVS Motor Company is a large conglomerate with a strong presence in automotive, finance, and retail. In November 2024, the two-wheeler market showed varied results where TVS Motors reported strong growth, with a 12% increase in total sales, rising from 352,103 units in November 2023 to 392,473 units in November 2024.

The domestic sales of TVS Motor Company also saw a 6% increase, growing from 287,017 units to 305,323 units during the same period. The performance was driven by a 4% growth in motorcycle sales and strong demand in the scooter segment, showcasing TVS Motors’ success in a strong competitive market.

Overview

• Founded: 1978
• Headquarters: Chennai, Tamil Nadu, India
• Parent Company: TVS Group
• Global Reach: TVS Motor operates in over 60 countries, including the Middle East, Southeast Asia, Africa, and Latin America.

TVS Motor Company Two-Wheeler November 2024 Sale

TVS Motors saw good growth, especially in scooters and EVs. However, other companies like Hero MotoCorp and Bajaj Auto saw a drop in domestic sales. TVS Motor reports strong performance with 12% growth in two-wheelers, 57% rise in EV sales, and 25% increase in exports.

TVS Motors Sales (November 2024)

Breakdown of TVS Motor Company Sales

International Market Performance

Exports Growth: Total exports grew by 25%, from 75,203 units in November 2023 to 93,755 units in November 2024.

Two-Wheeler Exports: Exports of two-wheelers grew by 34%, reaching 87,150 units compared to 65,086 units last year.

Reasons for Increase in TVS Motor Company 2-W November 2024 Sale

EV Adoption: TVS’s electric scooter, the iQube, has become more popular in cities due to its eco-friendly features.

EV Sales: In the first 11 months of 2024, TVS sold over 200,000 EVs, which helped grow the electric two-wheeler market in India.

Investments: TVS is investing in more EV production and expanding charging stations to support the growing demand for electric vehicles.

Summary

TVS Motors showed strong growth, especially in electric vehicles and scooters. The company’s international performance was also strong with higher exports. However, TVS faced a decline in three-wheeler sales, which is part of a shifting market trend, potentially due to the growing focus on electric vehicles. Overall, the two-wheeler market showed mixed results, with TVS performing well while competitors like Hero MotoCorp and Bajaj Auto faced declines in sales.