Auto Sales February 2024: TVS’s Overall Sales Grows By 33%

TVS announced that they recorded monthly sales of 3,68,424 units in February 2024 which is a 33 percent Year-Over-Year growth against 2,76,150 units in February 2023. 

In the domestic market alone, the Hosur-based manufacturer had a 34 percent increase in overall sales with 3,57,810 units retailed in February 2024, as against 2,67,026 units retailed in February 2023. The brand’s EV two-wheelers also registered a healthy 14 percent increase in Year-Over-Year sales with 17,959 units retailed in February 2024, compared to just 15,522 units in February 2023. This was mainly due to the expansion of its EV offering with the addition of the new TVS X (its premium electric offering), next to the TVS iQube (TVS’s longest-running EV two-wheeler). 

TVS’ two-wheeler’s overall sales increased by 21 percent last month with 2,67,502 units retailed as against 2,21,402 in February 2023. Out of which, the brand’s motorcycle sales grew by 46 percent with 1,26,243 units retailed in February 2023 to 1,84,023 units in February 2024. Whereas its scooter sales grew by 26 percent with 1,32,152 units retailed last month, compared to just 1,04,825 units retailed in February 2023. 

The company’s total export also grew by a massive 85 percent with 98,856 units retailed in February 2024, as against 53,405 units retailed in February 2023. Out of which two-wheeler exports grew by 98 percent, while three-wheeler exports grew by 16 percent. 

The homegrown automaker is also committed to the design, development, and deployment of future technologies across all its products, for which it has invested ₹5000 crore. Speaking about this commitment, Sudarshan Venu, Managing Director, TVS Motor Company said in a statement, “Our core is engineering and R&D, and this is driven by over 2,000 engineers backed by solid design and development capability. Our vision is to transform the quality of our customers, and redefine the future of mobility with technology, connectivity, and cutting-edge design”.