TVS Motor’s Sales Grow Despite Weak Three Wheeler Performance

TVS Motor Company clocked 12 percent year-on-year sales growth in October with the company witnessing retail growth during the festive season.

Total sales in the month of October increased to 3.08 lakh units from 2.74 lakh units in the same month last year, it said in a press release on Wednesday.

Sales of two-wheelers increased 15.1 percent to 3.03 lakh from 2.64 lakh year-on-year. Domestic sales of two-wheelers grew 17.6 percent to 2.72 lakh in the same period.

Motorcycle sales drove the two-wheeler segment as it grew 14.5 percent to 1.21 lakh units. Scooters, as a subset, saw marginal increase in sales to 92,417 units against 91,430 units last year.

Three wheeler sales did hit a speed bump in October, declining by 54.3 percent with the company selling 4,805 units compared to 10,510 units in the same month last year.

The company's total exports stood at 41,682 units, declining 15.7 percent from a year ago.