TVS Motor share price gains on robust December sales data

The company sold 11,232 units Electric of Vehicle in December 2023 against 11,071 units in December 2022.

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Shares of TVS Motor Company‘s saw an increase in early trading on January 2 following the company’s release of strong sales data for December 2023. At 09:19 am, TVS Motor Company was quoted at Rs 2,035.45 apiece , reflecting a gain of Rs 16.15, or 0.80 percent, on the BSE.

The company recorded 25 percent jump in its December 2023 sales at 3,01,898 units versus 242,012 units in the month of December 2022.

The company’s two-wheelers segment registered a growth of 27 percent at 2,90,064 units against 2,27,666 units in December 2022. The domestic two-wheeler sales jumped 33 percent at 214,988 units versus 161,369 units, YoY.

The motorcycle sales rose 19 percent from 124,705 units to 148,049 units and scooter sales jumped 34 percent at 103,167 units in December 2023 versus 76,766 units in December 2022.

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The company sold 11,232 units Electric of Vehicle in December 2023 against 11,071 units in December 2022.

The company’s total exports grew 8 percent at 85,391 units versus 79,402 units in December 2023, including two-wheeler exports growth of 13 percent at 75,076 units in December 2023.

The company’s three-wheeler segment registered sales of 11,834 units in December 2023 as against 14,346 units in December 2022.

During the third quarter of the current financial year, two-wheelers posted a robust growth of 27 percent with sales of 10.6 lakh units as against sales of 8.4 lakh units in the third quarter of FY22-23, the company said in a release.

In December 2023, two-wheeler battery manufacturer Tata AutoComp GY Batteries formed an after-market partnership with TVS Motor for battery purchases and servicing to the latter’s customers pan-India.

Under the tie-up, Tata AutoComp GY Batteries (Tata Green Batteries) will make available batteries for purchase through the extensive network of TVS Motor’s authorised dealerships and service centres.

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