TVS scooter gross sales shoot up by 121 % in April-June 2022, whereas Bajaj commissioned a brand new plant beneath Chetak Applied sciences.
Bajaj Auto and TVS Motor Firm have recorded optimistic monetary progress within the April-June 2022 interval (Q1 FY2023). This success has been attributed partly to their rising export numbers in addition to growing demand for battery-powered two-wheelers.
TVS Motor Firm: Robust gross sales numbers throughout all classes
The Chennai-based producer has reported whole gross sales of 9,07,000 items (together with exports) on this quarter, up 38 % Yr-on-Yr (YoY). Motorbike gross sales comprised 4,34,000 items, (up 7 %) and TVS additionally recorded its best-ever two-wheeler exports on this quarter – 2,96,000 items.
Scooter gross sales are the place TVS recorded essentially the most progress, with gross sales figures taking pictures up by 121 % to three,06,000 items. A small a part of this progress could be attributed to the TVS iQube, which offered 8,724 items, up 822 % YoY from 946 items in the identical interval final yr, reflecting the rising demand for electrical scooters out there. This quarter additionally noticed TVS launch new variants of the iQube EV, with an elevated vary of as much as 140km on a single cost. The refreshed iQube, which is presently out there in 33 cities, is slated to achieve 52 extra cities inside India.
Bajaj Auto: Exports improve as home gross sales decline
The commissioning of a state-of-the-art plant beneath Chetak Applied sciences, a part of its burgeoning EV funding dedication, is the important thing spotlight for Bajaj this quarter. Two-wheeler gross sales this quarter, nonetheless, dropped down by Eight % over the earlier monetary yr. Even in comparison with the numbers from January to March 2022 (This autumn FY2022), two-wheeler volumes within the April-June 2022 interval dipped 7 %. Export of two-wheelers, nonetheless, recovered some floor and have been up 2 % from This autumn FY2022, regardless of a Four % drop over the earlier monetary yr.
Bajaj Auto posted a revenue of Rs 1,173 crore on this quarter, which is a bounce of 11 % over final yr’s numbers. Nevertheless, the revenue after tax slipped nearly 20 % this quarter from the Rs 1,469 crore revenue amassed in This autumn FY2022. Revenues from operations in Q1 FY2023 rose Eight % to Rs 8,005 crore in comparison with Rs 7,386 crore in the identical quarter final yr.