TVS Motor, a prominent two-wheeler manufacturing company in India, experienced a 4 percent increase in total sales in the month of August. However, this growth was overshadowed by a decline in bike sales. Despite this setback, the overall two-wheeler vehicle sales saw a 5 percent increase, reaching 3,32,110 units.
In terms of domestic sales, two-wheelers performed well with a growth rate of 7 percent, reaching 2,56,619 units in August. However, motorcycle sales took a hit, declining to 1,53,047 units during the same period. On the other hand, scooter sales experienced a surge, reaching 1,42,502 units.
While TVS Motor witnessed positive growth in the domestic market, its vehicle exports saw a decline. In August, the company exported a total of 87,515 units, marking a decrease in comparison to previous months. Furthermore, three-wheeler sales also suffered, reaching only 13,738 units in August.
Despite the challenges faced by TVS Motor, there was one product that stood out in terms of sales. The electric scooter iQube proved to be a success, with a total of 23,887 units sold in August.
In short, TVS Motor’s overall sales performance in August showcased a mix of positive and negative results. While the company witnessed an increase in total sales, the decline in bike sales, vehicle exports, and three-wheeler sales served as areas of concern. However, the success of the electric scooter iQube provided a silver lining for the company.
Superfast News Coverage by DelhiBreakings.com team.
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