TVS Motors Hits Strong Sales Growth in May, Drives Stock Rally

2 Jun 2023 , 01:37 PM

TVS Motors Company Ltd witnessed a 1.5% rally in its stock prices following the release of impressive sales growth numbers. At the time of writing, the share price of TVS was trading at Rs.1304, a 2.55% increase from the previous day’s close.

TVS Motor Company reported a 9% increase in sales in May, reaching 330,609 units compared to last year.

1. Two-wheeler sales showed robust growth, surging 11% year-on-year to 319,295 units, with domestic two-wheeler sales increasing by an impressive 32% to 252,690 units.
2. Motorcycle sales recorded a 9% growth, reaching 162,248 units, while scooter sales grew by 3% to 103,203 units.
3.  Three-wheeler sales declined by 29% to 11,314 units.
4. TVS iQube Electric, the company's flagship electric vehicle, witnessed remarkable success, with sales reaching 17,953 units in May, a substantial increase from the previous year.
5. The company has a strong booking pipeline of over 30,000 units for TVS iQube, indicating continued demand and anticipated growth.
6. TVS Motor Company's international business segment reported total exports of 76,607 units in May 2023, with two-wheeler exports accounting for 66,605 units.
7. Although international sales were slightly lower than the previous year, the company maintains a solid global presence.

The positive sales figures have contributed to a rally in TVS Motors' stock prices, reflecting investor confidence in the company's performance and future prospects. 

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