iQube Electric Scooter Crosses 150,000 Sales Mark

TVS, the renowned Indian two-wheeler manufacturer, has achieved a significant milestone with its first electric scooter, the iQube. Launched in January 2020, the iQube has now crossed the 150,000-unit sales mark in the domestic market. This achievement comes after 43 months since its launch. The iQube has also recently been introduced in Nepal, expanding its reach beyond India. As of July 22, 2023, the cumulative sales of the iQube have reached an impressive 154,263 units. By the end of June 2023, TVS had produced a total of 147,309 iQube units, with production details for July 2023 set to be announced in mid-August.

Wholesale Sales Surge in FY24

In the first three months of the current financial year (FY24), TVS has witnessed a remarkable surge in wholesale sales. Compared to the same period last year, the company has recorded a 342% increase in sales, with 38,602 units sold from April to June 2023. This includes 6,227 units in April, 17,913 units in May, and 14,462 units in June. Consequently, the total wholesale sales of the iQube from its launch until the end of June 2023 amounted to 147,192 units, falling short of the 150,000-unit milestone by 2,808 units.

Successful Retail Sales in July

Although the official bulk sales figures for July are yet to be announced, TVS has already sold 7,111 units of the iQube by July 22, 2023. This indicates that the electric scooter has surpassed the 150,000-unit mark in terms of retail sales.

Subsidy Reduction Affects Sales

Like other electric two-wheeler manufacturers, TVS has experienced a decline in sales since June 2023. This can be attributed to the reduction in FAME-2 subsidy. In May 2023, the iQube witnessed its highest sales month with 20,253 units sold as buyers rushed to make their purchases before the subsidy reduction and subsequent price hike.

Pricing and Range

The iQube is currently available in two variants, namely Standard and S. After factoring in the FAME-2 subsidy, the on-road prices in Delhi range from Rs 1,17,000 to Rs 1,24,000. Prior to June 1, 2023, the prices for these variants were Rs 98,564 and Rs 108,690 respectively. The iQube offers a range of 140 km on a single charge, making it a reliable option for daily commuting. TVS has expanded its retail network for the iQube, with a presence in over 200 touch points across 140 cities in India.

  • iQube electric scooter crosses the 150,000-unit sales mark in the domestic market
  • Cumulative sales reach 154,263 units as of July 22, 2023
  • Total iQube production stands at 147,309 units by the end of June 2023
  • TVS registers wholesale sales of 38,602 units in the first three months of FY24
  • Reduction in FAME-2 subsidy leads to reduced sales
  • iQube priced between Rs 1,17,000 to Rs 1,24,000 after subsidy
  • Offers a range of 140 km on a single charge

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