The company said that its motorcycle sales have increased by two percent last month. It stood at 1,48,208 units. In the same month last year, it had sold 1,46,075 units. Its scooter sales have increased by 11 percent. It was 1,21,364 units. There is strong demand for the company’s iQube electric scooter in the electric two-wheeler segment. Last month its sales increased to 14,462 units. In the same month last year, the company had sold 4,667 units. TVS sales have increased in the country but its exports have declined. Last month the company exported 68,568 units. In the same period last year, its exports were 1,00,625 units.
There was a decline in the sales of electric two-wheelers in the early weeks of June due to the reduction in FAME 2 subsidy given by the central government for electric two-wheelers. The company’s electric scooter iQube competes with Ola S1 Pro and Ather 450X. Ola Electric is the largest company in this segment. The company claims that its market share in this segment has increased to about 40 percent. The company plans to launch some new electric two-wheelers. These may include a low-priced scooter, a premium motorcycle and a low-priced electric motorcycle.
Recently, TVS Motor’s iQube had crossed the total sales mark of one lakh units. To meet its increasing demand, the company has made preparations to increase its production. In this year’s Economic Survey, it was told that the market of electric vehicles in the country can increase to one crore units annually by 2030. This is likely to provide around five crore direct and indirect jobs. In December last year, India became the third largest automobile market in the world, leaving behind Japan and Germany.