According to figures issued on Monday, the two- and three-wheeler manufacturer TVS Motor Company sold 275,115 units in January 2023. Sales increased by 3%, with the firm selling 266,788 units in the previous year.
Its two-wheeler sales increased by 4% to 264,710 units in January 2023 from 254,139 units the previous year, supported by a 29% increase in domestic two-wheeler sales to 216,471 units in January 2023 from 167,795 units in January 2022, according to TVS Motor.
The company’s motorcycle sales fell 12% to 121,042 units in January 2023, compared to 137,630 units in January 2022, while scooter sales increased 32% to 106,537 units in January 2023, up from 80,580 units in January 2022.
TVS iQube Electric achieved its highest-ever sales total of 12,169 units in January 2023, up from 1,529 units in January 2022.
However, shipments fell by 41.7 percent to 57,024 units in January 2023, compared to 97,858 units in January 2022.
“Given the macro-economic uncertainties in a few international markets, the company has reduced stock to enable the channel partners. Customer retails continue to be well ahead of the despatches. With reduced distributor stocks and improved retails, the Company is optimistic of improving despatches in the forthcoming months,” said TVS Motors in its regulatory filing.
On the BSE, TVS Motor Company’s shares fell 1.87 percent to ₹1,017.90.
