TVS shares: TVS Motor Company traded 2.4 percent higher in the afternoon of February 2 after the largest two-wheel manufacturer announced a 23 percent gain in car sales in January.
The corporation sold 339,513 automobiles in the first month of 2024, up from 275,115 units in the same period the previous year, according to an exchange filing on February 1. At 1.05 p.m., the stock was trading at Rs 2,040 on the National Stock Exchange (NSE), up 2.2 percent from its previous close. In the last three months, the stock has increased by 30 percent. In January 2024, it sold 329,937 two-wheelers, which is 25% more than it did in the same month last year. – TVS shares
Sales of motorcycles increased by 29% to 155,611 units, while sales of scooters increased by 24% to 132,290 units. Sales of electric vehicles (EVs) increased by 34% in January 2024, from 12,169 units in January 2023 to 16,276 units. In January 2024, TVS’s exports reached 69,343 units, a 22 percent increase. Exports of two-wheelers increased by 28% to 61,704 units in January 2024. The corporation did, however, note that limitations in the supply of containers had a minor impact on exports during the month.
Three-wheeler sales fell to 9,576 from 10,405 units last year.
