TVS Motor Company has scripted a success story on the export front with motorcycle exports exceeding one million for the first time in 2021-22. Motorcycle exports in FY22 were also higher than the company’s highest ever domestic motorcycle sales in FY19.
While domestic demand for two-wheelers has been subdued in the post-second wave phase, India’s two-wheeler exports, especially motorcycles, have increased, supported by the rapid recovery from the pandemic in some markets. , deeper company penetration in more countries and a strengthened dealer network in all markets.
TVS Motor Company’s total bicycle exports in FY22 were 1,024,166 units, an increase of 43% from 714,105 units in FY21. Bicycle export volumes for FY22 were higher than the company’s highest ever domestic bicycle sales of 1,013,701 units in FY2019.
“Over the past year, the international two-wheeler industry has grown in popularity and there is demand for quality, durable and more fuel-efficient personal mobility options. In FY22, TVS Motor’s international two-wheeler business sold one million units, marking the first time the company achieved this milestone in a fiscal year,” a company spokesperson said. Activity area.
TVS Motor’s scooter exports increased to 55,727 units in FY22 from 41,621 units in FY21.
In FY22, India’s total bicycle exports were 4.08 million units, compared to 3.04 million units in FY21. Bajaj Auto remained the largest India’s bicycle exporter, with a 53% market share, up from 59% in FY21. TVS Motor was the second largest motorcycle exporter with a 25% market share, up from 23% in FY21. in FY21. Hero MotoCorp was the third largest exporter of bicycles, with a market share of 7%, up from 5.8% in FY21.
In FY22, the Indian two-wheeler industry shipped 3.5 lakh units of “Made in India” scooters to various markets, up from 2.32 lakh in the previous year.
“We are excited to build on this positive export momentum and expand into new geographies with compelling products and innovative technology offerings. Key products for the international market include Apache Series, NTorq 125, HLX Series, Raider Series and Neo Series,” the spokesperson said.
TVS Motor has rapidly expanded its presence to more than 80 countries in Africa, Southeast Asia, the Indian subcontinent, Latin America and West Asia.
“Two-wheeler exports were up 20% from pre-pandemic levels in FY22, driven by healthy demand from African and LATAM markets, thanks to a stable economic and political environment. ASEAN markets are recovering from Covid-19 restrictions and are expected to increase demand in the coming months,” according to the ICRA report.
April 17, 2022