TVS Motor Company’s iQube electric scooter has recorded over 15,000-unit sales for the second month in a row in March 2023. What’s more, the 15,364 units, coming on the back of February 2023’s 15,522 units, have helped drive up the cumulative sales of the iQube over the 1,00,000-unit milestone to a total of 1,08,550 units.
- FY2023 sales account for 89 percent of total iQube sales
- iQube is offered in three variants – Standard, S and ST.
TVS iQube FY2023 sales
TVS’s sole electric offering, the iQube was launched in January 2020 and has been on a roll in FY2023 with total sales of 96,654 units. It accounts for 89 percent of the total iQube sales in the Indian market till end-March 2023. The company had earlier outlined a target of achieving sales of 1,00,000 units in FY2023, but narrowly missed it by just 3,346 units.
Along with customers' growing preference for EV two-wheelers in the face of high petrol costs – currently around Rs 106 per litre in Mumbai – the acceleration in demand for the scooter seems to have come after the rollout of the refreshed iQube in May 2022.
The demand for the iQube built up rapidly in the past 12 months, with sales nearly doubling in the first three quarters of FY2023. From selling 8,724 units between April-June 2022 the sales rose to 15,645 units (up 79 percent) in the July-September 2022 period. This increased to 29,230 units (up 87 percent) between October-December 2022, with the final quarter racking up sales of 43,055 units (up 47 percent.
The iQube's market performance is reflected in the electric two-wheeler's rankings. On the retail sales front, as per VAHAN data, in FY2023, the iQube was bought by 80,565 owners and takes sixth place in the Top 20 manufacturers out of the 117 OEMs in the fray.
TVS iQube: more details
Available in three variants (Standard, S and ST), the zero-emission TVS is priced at Rs 98,564 for the iQube, with the iQube S costing Rs 1,08,690 (on-road Delhi), both prices include the FAME and other state subsidies. TVS Motor has also introduced a top-spec iQube ST variant with a range of 140km on a single charge, but is yet to disclose its price.
The refreshed iQube retains its all-LED lights and 12-inch wheels, but gets a host of connectivity features, driven by the various TFT instrument clusters on offer. While the entry-level iQube gets a 5-inch unit that supports turn-by-turn navigation, the iQube S comes equipped with a larger 7-inch TFT cluster that offers music controls and theme personalisation as well. The top-end ST variant features a 7-inch touchscreen instrument cluster, which will get OTA updates and offer voice assistance.
Recognising the e-scooter's growth potential, TVS has also expanded the retail network for the iQube, which is currently available in 100 cities and across 200 touchpoints.
Ample recognition of the TVS iQube’s market positioning and consumer acceptance came early in the year when the eco-friendly scooter won the ‘Green Two-Wheeler of the Year’ title at the Autocar Awards 2023.
Azaman Chothia
Vishal Venugopal
