TVS has registered significant sales growth in both the motorcycle and scooter segments in May 2022.
TVS Motor Company on Wednesday said it sold 287,058 units of motorcycles and scooters in May 2022, compared to 154,416 units of two-wheelers in the previous month. The two-wheeler major also said its domestic sales in May this year were 191,482 units as against 52,084 units registered in May 2021.
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TVS claimed that its motorcycle sales increased from 125,188 units in May 2021 to 148,560 units in May 2022, while the company’s scooter sales grew from 19,627 units in May 2021 to 100,665 units in May 2022. in May 2022 in the domestic market, the company’s export figures were slightly reduced. The car company claimed that two-wheeler exports recorded a record 95,576 units last month, compared to 102,332 units sold in May 2021.
While the overall sales of the car company increased in May 2022 compared to 2021, TVS claimed that the shortage of semiconductors has affected the production and sales of the premium two-wheeler. The car company sells premium two wheelers like Apache series motorcycles, Jupiter scooter, iQube electric scooter etc. The TVS iQube electric scooter is said to have sold 2,637 units by May 2022.
Talking about the production and marketing disruption due to the supply problem, TVS said it is working with other sources and taking various steps to improve supplies immediately. It also claims that some improvement has been seen in the last month. The car company in a statement went on to say that it is hopeful that volumes will return to normal levels once semiconductor supply improves.
Date of First Publication: 01 Jun 2022, 15:00 PM IST