TVS Motor wholesales grow 7% in December; stock rises 4%

TVS Motor Company recorded monthly wholesales of 321,687 units in December 2024, posting a growth of 7% as against 301,898 units in the month of December 2023.

Two-wheelers registered a growth of 8% with sales increasing from 290,064 units in December 2023 to 312,002 units in December 2024. Domestic two-wheeler wholesales stood at 215,075 units in December 2024 as against 214,988 units in December 2023.

Reacting to the development, shares of TVS Motor Company closed 4% higher on Thursday to hit a high of ₹2,507 on the BSE, taking the company’s market cap to ₹1.19 lakh crore.

Scooter registered a growth of 30% with sales increasing from 103,167 units in December 2023 to 133,919 units in December 2024. Motorcycle registered sales of 144,811 units in December 2024 as against 148,049 units in December 2023.

The company sold 20,171 electric vehicles in December 2024 as against 11,288 units in December 2023, registering a growth of 79%.

TVS Motor Company’s total exports grew by 22% increasing from 85,391 units registered in December 2023 to 104,393 units in December 2024. Two-wheeler exports registered a growth of 29% with sales increasing from 75,076 units registered in December 2023 to 96,927 units in December 2024.

During the third quarter of the current financial year, two-wheelers posted a robust growth of 11% with sales of 11.8 lakh units as against sales of 10.6 lakh units in the third quarter of FY24. Three-wheelers registered sales of 0.29 lakh units in the third quarter of the current year as against 0.38 lakh units in the third quarter of FY24. Two-wheeler sales include EV sales of 0.76 lakh units in the third quarter of 2024-25 as against 0.48 lakh units in the third quarter of FY24 with a growth of 57%.