TVS Motor Share Gains on 6% Growth in September Sales

TVS Motor Shares
TVS Motor Shares

TVS Motor share price opened 1% higher than its previous close on September 3, the first in 52 weeks, after it reported total sales for September at 4,02,553 units, up 6% year-on-year .It traded near its high. ,One year ago it was 79,011 units. 

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 The company’s two-wheeler segment recorded a year-on-year growth of 7% to 386,955 units compared to 361,729 units reported in September 2022. In Japan, sales increased by 6% from the previous year to 300,493 units. Compared to September 2022 sales volume was 2,83,878 units. 

 

 Motorcycle sales totaled 186,438 units in September 2023, a 10% year-on-year increase, compared to 169,322 units sold in the same month last year. At the same time, scooter sales recorded 8% YoY growth at 1,55,526 units compared to 1,44,356 units sold in September 2022. Overseas, the company’s total exports increased by 8% year-on-year to 1,00,294 units from 92,975 units in September 2022. The motorcycle export sector increased from 77,851 units in September 2022 to 86,462 units by September 2023, an increase of 11% year-on-year.

 

The company’s two-wheeler manufacturer sold 20,356 units of TVS iQube Electric in September 2023 (compared to 4,923 units sold in the same month last year). 

 It took him over three years before the company sold his first 1,00,000 units of his TVS iQube Electric. However, in just 10 months, circulation reached 200,000 copies.

 

As of 10:30 am, shares of TVS Motors were trading at Rs 1,533.55 on the NSE, 0.77 per cent higher than its previous closing price.

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