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Bajaj Auto and TVS Motor Firm have recorded constructive 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: Sturdy gross sales numbers throughout all categories

The Chennai-based producer has reported a complete gross sales of 9,07,000 models (together with exports) on this quarter, up 38% Yr-on-Yr (YoY). Bike gross sales comprised 4,34,000 models, (up 7 %) and TVS additionally recorded its best-ever two-wheeler exports on this quarter — 2,96,000 models.

Scooter gross sales are the place TVS recorded essentially the most progress, with gross sales figures capturing up by 121% to three,06,000 models. A small a part of this progress could be attributed to the TVS iQube, which offered 8,724 models, up 822% YoY from 946 models 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 succeed in 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 by 8% over the earlier monetary yr. Even in comparison with the numbers from January to March 2022 (This fall FY2022), two-wheeler volumes within the April-June 2022 interval dipped by 7%. Export of two-wheelers, nonetheless, recovered some floor and have been up 2% from This fall FY2022, regardless of a 4% drop over the earlier monetary yr.

Bajaj Auto posted a revenue of ₹1,173 crore on this quarter, which is a leap of 11% over final yr’s numbers. Nonetheless, the revenue after tax slipped virtually 20% this quarter from the ₹1,469 crore revenue amassed in This fall FY2022. Revenues from operations in Q1 FY2023 rose 8% to ₹8,005 crore in comparison with ₹7,386 crore in the identical quarter final yr.

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