TVS Motor Company has revealed that it has sold 3,02,982 units in May 2022. A major contribution to the total figure came from domestic two-wheeler sales which grew by 268 per cent YoY. Except for exports, the automaker saw growth in almost all sectors. Compared to May 2021, when TVS sold a total of 1,66,889 vehicles, sales have grown by 81 per cent.
Just like many other automakers, TVS’s ability to sell more vehicles was restricted by localised lockdowns imposed by the Government of India last year. This resulted in a lower base figure and a huge growth when compared to figures in 2022. When looking at the difference between sales figures for April and May 2022, TVS witnessed a rather small growth of just 2.6 per cent.
Total two-wheelers sales grew from 1,54,416 units in May 2021 to 2,87,058 units in May 2022. Domestic two-wheeler sales grew from 52,084 units in May 2021 to 1,91,482 units in May 2022. Even in the two-wheeler space, motorcycles dominated the charts with sales going up from 1,25,188 units in May 2021 to 1,48,560 units in May 2022. Meanwhile, scooter sales were up by a massive 413 per cent as TVS had sold 19,627 units in May 2021 but 1,00,665 units in May 2022.
As far as EVs are concerned, TVS only has one product in their portfolio – the iQube which saw domestic sales of 2,637 units in May 2022. Recently, the company introduced the updated iQube that gets a longer range, newer features and comes in three variants. The reinvigoration of this electric scooter should help TVS sell more EVs in the coming months.
TVS does not only make two-wheelers for the masses, they also are in the business of making three-wheelers. This arm of TVS also saw a growth of 28 per cent from 12,473 units in May 2021 to 15,924 units in May 2022.
One area where TVS saw regression of numbers is exports. The company’s total exports registered sales of 1,10,245 units in May 2022 as against 1,14,674 units in May 2021. This is a small decrease of about 3.8 per cent. Two-wheeler exports recorded sales of 95,576 units in May 2022 as against 1,02,332 units in May 2021.
TVS Motor Company stated that the shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. The company is working aggressively with alternate sources and taking every effort to improve supplies at the earliest. This has resulted in some improvement in the month of May and TVS is hopeful that volumes will revive to normal levels once the semiconductor supplies improve.
