TVS sells 3.5m two-wheelers in 2022, exports cross a million for second straight year

CY2022’s combined 3.5 million domestic and export sales are the second-best for TVS Motor Co after the 3.75 million units in 2018.

By Ajit Dalvi calendar 07 Jan 2023 Views icon8742 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Chennai-based TVS Motor Co has entered 2023, having closed CY2022 with a big number. The company’s combined domestic and export market sales have crossed the 3.5 million units mark.

Number-crunching reveals that TVS sold 2.45 million two-wheelers in the domestic market and exported 1.06 million units in 2022 (see data table below). The cumulative domestic and export sales number – 35,25,039 – translates into 9,657 TVS two-wheelers being sold every day last year or 6,732 units in India and 2,925 units in overseas markets.

A close look at the decadal sales of the company shows that CY2022’s combined 3.5 million domestic and export sales are the second-best after the 3.75 million units in heady CY2018 – domestic sales of 31,51,097 units and exports of 601,367 units.

Combined domestic and export market sales have crossed three-and-a-million units for the second time in CY2022. The previous occasion was in 2018.

Betting big on exports
While TVS remains on a strong footing in the domestic market with 24,57,232 units, recording 16% year-on-year growth and the firm No. 3 player after Hero MotoCorp and Honda Motorcycle & Scooter India, it is the company’s improving export growth story which is drawing attention.

TVS exports have seen 360% growth from CY2013’s 231,970 units to CY2022’s 10,67,807 units. In terms of annual growth, the company saw its highest exports in CY2021 when it surpassed the million- units milestone in a calendar year for the first time and recorded strong 72% YoY growth, driven by the pent-up demand and opening of overseas markets after the pandemic. Importantly, despite the troubled global geo-political scenario in 2022, the devaluation of the rupee and the strengthening of the dollar impacting demand in export markets, the company saw only a marginal impact on export sales: 10,67,807 units, down 2.70% (CY2021: 10,97,504).

TVS Motor Co’s key export motorcycles include the Apache series, HLX series, Raider and the Neo while the Jupiter and NTorq remain popular scooter buys.

TVS Motor Company has a presence across 80 countries in Africa, Southeast Asia, Indian Sub-Continent, Central & Latin America and is seeking to enter more markets in Europe and North America. 

In comparison, two-wheeler export market leader Bajaj Auto, which has felt the pressure a little more. Its CY2022 shipments of 18,46,532 units are down 17.40% YoY (CY2021: 22,35,682).  Put together, these two OEMs are the torchbearers of the India two-wheeler export story.

Tata Motors sells 37,961 EVs in H1 FY2024, EV share of PVs rises to 13.5 percent

auther Autocar Pro News Desk calendar04 Oct 2023

An expanded stable of electric cars and SUVs and rising consumer demand for EVs sees the company achieve 79% of its enti...

CNG vehicle sales rise 32% to 666,000 units in January-September, CNG price cut to Rs 76 per kg

auther Autocar Pro News Desk calendar03 Oct 2023

Demand grows for CNG-powered passenger vehicles and three-wheelers, which together account for 77% of total industry sal...

TVS iQube e-scooter sales charge past 200,000 units in 45 months

auther Autocar Pro News Desk calendar03 Oct 2023

Launched in January 2020, demand accelerates for TVS Motor Co’s sole electric scooter; 96,151 units have been sold in th...