TVS Motor Posts Double-Digit Growth in April Despatches

TVS Motor Co. Ltd. reported double-digit growth in its dispatches for the fourth consecutive month in April, according to its exchange filing on Thursday. Exports grew by 45%, marking the highest growth since January.

The company’s electric two-wheeler despatches also reached their highest level since October, signalling positive momentum as TVS Motor competes with Ola Electric Mobility Ltd. and Bajaj Auto Ltd. for leadership in the electric vehicle segment. TVS sold 27,684 electric two-wheelers in April, marking a 59% on year growth.

Overall, the company’s dispatches to dealers in April stood at 443,896 units, a 16% increase compared to the previous year. This represents the highest number of units sold since October, when TVS sold 489,015 units.

In the two-wheeler segment, TVS sold 430,330 units, a 15% increase on year. Domestic sales of two-wheelers rose 7% to 323,647 units. The company dispatched 220,527 motorcycles and 169,741 scooters, with both categories seeing around 17% growth compared to April of the previous year.

TVS Motor also reported strong export performance, with 116,880 units shipped in April, up from 80,508 units a year earlier. Exports of two-wheelers grew 46% on year, totalling 106,683 units. Three-wheeler dispatches also rose by 50% on year to 13,566 units.