The 2-wheeler manufacturer’s total sales increased by 9% in September 2022 with sales of 379,011 units compared to 347,156 units in the month of September 2021.
Total two-wheeler sales grew by 9% to 361,729 units in September 2022 compared to 332,511 units sold in September 2021. time last year.
Motorcycle sales increased by 2% to 169,322 units in September 2022 compared to 166,046 units sold in September 2021. year-on-year.
TVS Motor Company has had a strong start to the festive season and demand is expected to increase further this season, the company said.
The company’s exports totaled 9.08% to 92,975 units in September 2022 compared to 102,259 units in September 2021. Two-wheeler exports declined by 11.96% to 77,851 units in September 2022 from 88,427 units last year. .
In the international market there is a slight improvement, however, the challenges of recession and high inflation still persist. We are confident that sales momentum will continue to improve, the company said in a press release.
In the three-wheeler segment, the company’s sales increased by 18% to 17,282 units in September 2022 from 14,645 units in September 2021.
In the electric car segment, the company sold 4,923 units of TVS iQube Electric in September 2022 against sales of 766 units in September 2021.
During the second quarter of the current financial year, the two-wheeler posted a growth of 12% with sales of 9.77 lakh units as against sales of 8.70 lakh units in the second quarter of FY 21-22. The company’s three-wheeler registered a growth of 7% with sales of 0.51 lakh units in the second quarter of this year against 0.47 lakh units in the second quarter of FY 21-22.
TVS Motor Company is famous as two and three wheeler manufacturer worldwide. The company has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.
The company reported a standalone profit of Rs 321 crore in Q1 FY23 against a profit of Rs 53 crore in Q1 FY22. Operating income was Rs 6,009 crore for the quarter ended June 2022 compared to Rs 3,934 crore reported for the quarter ended June 2021, up 52.7% YOY.
Shares of TVS Motor Company fell 2.36% to Rs 1,007.15 on the BSE.
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(This story has not been edited by Business Standards staff and is automatically generated from an aggregated feed.)