TVS iQube Electric scooter recorded record-breaking sales of 23,887 units in August 2023, compared to 4,418 units sold in August 2022.
TVS iQube Electric Scooter Breaks Sales Records
TVS Motor Company experienced remarkable sales growth in the domestic market during August 2023, thanks to a diverse product portfolio. However, exports faced a decline. In August 2023, the company sold a total of 256,619 units in the domestic market, representing a 7.23 percent year-on-year (YoY) growth. This was a significant improvement compared to the 239,325 units sold in August 2022. On the global front, TVS Motor Company witnessed a slight decline of 1.36 percent YoY, with 73,821 units sold in August 2023, compared to 74,838 units in August 2022.
TVS Jupiter Dominates Domestic Sales
Despite a minor decline in sales, the TVS Jupiter emerged as the best-selling scooter in the domestic market. In August 2023, 70,065 units of TVS Jupiter were sold, slightly down from the 70,075 units in August 2022. The TVS Jupiter secured the second spot on the top 10 list of scooters sold last month, just behind the Honda Activa, and commands an impressive 27.30 percent share in the company’s lineup.
The TVS Jupiter lineup was expanded in August 2023 with the introduction of the ZX Drum SmartXonnect variant, which is expected to boost sales in the coming months. The TVS Raider experienced a remarkable YoY growth of 111.20 percent, with sales reaching 42,375 units in August 2023, compared to 20,064 units in August 2022. The XL moped also saw a slight improvement in YoY sales, with 34,495 units sold in August 2023, compared to 36,489 units in August 2022.
Other TVS models such as Ntorq and iQube also achieved YoY sales growth. Ntorq sales increased by 4.12 percent, reaching 28,787 units in August 2023. However, the star performer was the iQube, which recorded a staggering 440.67 percent increase in sales, with 23,887 units sold in August 2023, compared to 4,418 units in the same month of the previous year.
While Apache sales experienced a substantial YoY decline of 53.45 percent, reaching 18,863 units in August 2023, the TVS Sport witnessed increased attention in the domestic market, with sales growing by 44.98 percent to 12,819 units. TVS also achieved commendable sales figures with models such as the Radeon (10,145 units), Zest (7,844 units), Star City (3,073 units), Ronin (2,021 units), and RR310 (245 units). Zest sales, in particular, saw an impressive YoY growth of 64.65 percent.
TVS Exports Show Minor Decline
TVS Motor Company’s exports experienced a slight decline of 1.36 percent in August 2023. The Star City 125 was the highest-exported model, with 31,519 units shipped. However, this marked a YoY de-growth of 0.33 percent compared to August 2022. The Star City 125 currently holds a significant share of 42.70 percent in the company’s export portfolio.
On the positive side, TVS Star City exports witnessed an impressive YoY growth of 52.99 percent, with 17,406 units shipped in August 2023, compared to 11,377 units in August 2022. Apache exports experienced a decline of 9.65 percent, reaching 8,212 units in August 2023. Ntorq exports, on the other hand, showed improvement with a 14.16 percent growth, reaching 6,660 units. As for the TVS Jupiter, it achieved a remarkable YoY
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