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TVS Motor sells 7 lakh vehicles in October as electric sales more than double

Sales rose 29% on a year ago, with exports up by half and electric scooter and three-wheeler volumes climbing 120%.

From the editorial desk · ChennaiPublished
TVS Motor Company facility (file photo)
TVS Motor Company facility (file photo)Photo: Jishnuzz / Wikimedia Commons, CC BY-SA 3.0

Key points

  1. TVS Motor sold 7,00,134 vehicles in October, up 29% from 5,43,557 a year earlier.
  2. Electric vehicle sales jumped 120% to 71,382 units.
  3. Two-wheeler exports rose 51% to 1,55,915 units.

TVS Motor Company sold 7,00,134 vehicles in October, 29% more than the 5,43,557 it sold in the same month last year, as festive demand at home and a surge in exports lifted every part of its business.

Two-wheelers made up the bulk of the total at 6,70,679 units, up 28%. Within that, domestic two-wheeler sales rose 22% to 5,14,764, a sharp step up from the 4,21,631 the company sold in Indian showrooms a year ago.

Electric and export growth

The fastest growth came from electric vehicles. TVS sold 71,382 electric vehicles, up 120% from 32,387 last October, making EVs roughly one in ten of everything it sold in the month.

Overseas markets also pulled hard. Two-wheeler exports rose 51% to 1,55,915 units, which means more than a fifth of the company’s two-wheelers went abroad.

The three-wheeler business, still small next to scooters and motorcycles, grew 60% to 29,455 units, from 18,407 a year earlier.

The wider picture

The numbers add to a strong opening day for October auto sales. Maruti Suzuki, Hyundai and Mahindra all reported record months earlier on Sunday, helped by festive buying.

For TVS, the October total is a big jump on its own earlier peak: a year ago, 5,43,557 units was described by the company as its highest monthly sales. November figures will show whether demand holds once the festive season is over.

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