TVS Motor India is a roll. That’s what Q3 FY2021 numbers indicate. The Chennai-based two-wheeler major recorded its highest-ever Q3 revenue of Rs 5,404 crore in Q3 FY2021, up 31% year-on-year (Q3 FY2020: Rs 4,126 crore). The Q3 Profit After Tax at Rs 266 crore was also the highest ever, up from Rs 121.07 crore in Q3 FY2020.
A close look at the company’s performance in the domestic scooter market reveals that the Chennai-based manufacturer sold a total of 637,235 units in the April-December 2020 period, which gives it a 20.54% market share. This is the first time that TVS’s scooter market share has crossed the 20% mark in India, which also indicates that every fifth scooter sold in India, in the nine-month period under review, was a TVS product.
Powering TVS numbers is its flagship Jupiter, which sold a total of 379,119 units and accounted for 59.50% of the company’s total scooter sales in April-December 2020. Next up is the snazzy NTorq with 172,319 units and contributing 27% to total sales. The Pep+ and the Zest make up the balance. Interestingly, TVS also sold 292 units of its iQube electric scooter.
Of course, there’s no disputing the fact that Honda, with its unbeatable Activa rules the roost in the Indian scooter market with a 52% market share. In April-December 2020, Honda sold a total of 16,06,451 scooters, which means every second scooter sold in the country during this period was a Honda. Of this total, the Activa accounted for 82% of total Honda sales, with the Dio (234,655) and Grazia (52,413) accounting for the rest.
Suzuki and Hero MotoCorp are neck to neck in the scooter market share stakes. Suzuki, whose Access is the best-selling 125cc model, sold a total of 325,201 units to take a 10.48% share of the market, slightly ahead of Hero, which has a 10.23% share with 317,382 units.
For the two-product-range Suzuki, the Access, not surprisingly, accounts for the bulk of its sales: with 274,958 units, it accounts for 84.55% sales while the Burgman delivers the balance 15.46% with 50,243 units.
Hero MotoCorp, with three products, sees the Pleasure (133,369) contribute to 42% of its total sales. It is followed by the Duet (108,773) and Maestro (75,241).
Every fifth scooter sold in India is a TVS
This is the first time that TVS’s scooter market share has crossed the 20% mark in India, which also indicates that every fifth scooter sold in India, in the nine-month period under review, was a TVS product.