TVS, Bajaj register positive growth in April-June 2022 period

    TVS scooter sales shoot up by 121 percent in April-June 2022, while Bajaj commissioned a new plant under Chetak Technologies.

    Published On Jul 31, 2022 07:00:00 AM

    7,555 Views

    Chetak iQube collage.
    Listen to this Article

    Bajaj Auto and TVS Motor Company have recorded positive financial growth in the April-June 2022 period (Q1 FY2023). This success has been attributed partly to their growing export numbers as well as increasing demand for battery-powered two-wheelers. 

    TVS Motor Company: Strong sales numbers across all categories

    The Chennai-based manufacturer has reported total sales of 9,07,000 units (including exports) in this quarter, up 38 percent Year-on-Year (YoY). Motorcycle sales comprised 4,34,000 units, (up 7 percent) and TVS also recorded its best-ever two-wheeler exports in this quarter – 2,96,000 units.

    Scooter sales are where TVS recorded the most growth, with sales figures shooting up by 121 percent to 3,06,000 units. A small part of this growth can be attributed to the TVS iQube, which sold 8,724 units, up 822 percent YoY from 946 units in the same period last year, reflecting the growing demand for electric scooters in the market. This quarter also saw TVS launch new variants of the iQube EV, with an increased range of up to 140km on a single charge. The refreshed iQube, which is presently available in 33 cities, is slated to reach 52 more cities within India.

    Bajaj Auto: Exports increase as domestic sales decline

    The commissioning of a state-of-the-art plant under Chetak Technologies, part of its burgeoning EV investment commitment, is the key highlight for Bajaj this quarter. Two-wheeler sales this quarter, however, dropped down by 8 percent over the previous financial year. Even compared to the numbers from January to March 2022 (Q4 FY2022), two-wheeler volumes in the April-June 2022 period dipped 7 percent. Export of two-wheelers, however, recovered some ground and were up 2 percent from Q4 FY2022, despite a 4 percent drop over the previous financial year.

    Bajaj Auto posted a profit of Rs 1,173 crore in this quarter, which is a jump of 11 percent over last year’s numbers. However, the profit after tax slipped almost 20 percent this quarter from the Rs 1,469 crore profit amassed in Q4 FY2022. Revenues from operations in Q1 FY2023 rose 8 percent to Rs 8,005 crore compared to Rs 7,386 crore in the same quarter last year.

     

    TVS Bikes

    Copyright (c) Autocar India. All rights reserved.

    Comments

    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now

    Search By Bike Price

    Poll of the month

    What do you think of Lewis Hamilton’s move to Ferrari?

    He’ll win his 8th F1 title with Ferrari

     

    35.69%

    He should have stayed with Mercedes

     

    19.01%

    No difference; Verstappen will still win the title

     

    45.30%

    Total Votes : 1031
    Sign up for our newsletter

    Get all the latest updates from the automobile universe