After 43 months of dedication and hard work, this is a significant accomplishment
The TVS iQube from TVS Motor receives a lot of attention for its exceptional performance and services. It is one of the most efficient electric scooters available. The company is now proud to announce its latest achievement, which is sure to add to its already impressive reputation. Based on the reports of Vahan, the Autocar Professional has shed light on the sales figures the company has achieved in its successful history.
Since January 2020 until now, TVS has been elated to witness remarkable sales figures. TVS Motor Co’s iQube electric scooter has sold over 150,000 units in India, with 154,263 sold as of July 22. Production details for July 2023 will be announced in mid-August. iQube’s success showcases the growing demand for eco-friendly transportation in India.
TVS iQube was released in January 2020, coinciding with the Bajaj Chetak launch. It took 43 months for the e-scooter to reach 150,000 sales in India. Its highest sales performance was recorded in FY2023, with 96,654 units sold. It was just shy of 100,000 sales with 3,346 units.
|
TVS iQUBE SALES IN INDIA SINCE LAUNCH (source: Vahan) |
|
|
FY |
UNITS |
| 2020 (JAN-MARCH ’20) |
62 |
| 2021 |
1061 |
| 2022 |
10773 |
| 2023 |
96654 |
| 2024 (APRIL-JUNE ’23) |
38602 |
| JULY ’23 (RETAIL TILL 22ND) |
7111 |
| TOTAL |
154263 |
|
TVS iQUBE PRODUCTION FIGURES (Source: SIAM) |
|
|
FY |
UNITS |
| 2020 (JANUARY-MARCH ’20) |
134 |
| 2021 |
1035 |
| 2022 |
10798 |
| 2023 |
97808 |
| 2024 (APRIL-JUNE ’23) |
37534 |
| TOTAL |
147309 |
TVS sold 38,602 units in the first three months of the fiscal year 2024. This is a significant increase of 342% compared to the same period last year. This includes 6,227 units completed in April 2023, 17,913 units in May 2023, and 14,462 units in June 2023. Overall, since its launch in January 2020 until June 2023, iQube has sold 147,192 units. This is just 2,808 units away from 150,000 units.
As of July 22, 2023, the latest retail sales data from Vahan indicates that the TVS iQube has exceeded the 150,000 unit sales mark, with 7,111 units sold thus far. On August 1st, TVS Motor Co plans to officially announce iQube’s wholesale figures. Notably, June’s retail sales alone reached 7,848 units. These statistics suggest that iQube has achieved more than 100,000 sales in India in just four months, representing a significant milestone for the company.
TVS Motor Co, along with other electric two-wheeler manufacturers, faced a decline in sales starting in June 2023. This was due to the reduction in FAME II subsidy from 40% to 15%. In May 2023, iQube experienced its highest monthly retail sales of 20,253 units. Customers made early purchase decisions in anticipation of the price increase on June 1.
Refreshed model boosts sales
The iQube experienced a surge in demand in FY2023 following the launch of its updated version. This boasted enhanced features and capabilities in May 2022. As a result, sales increased significantly. This culminated in the scooter being awarded the prestigious ‘Green Two-Wheeler of the Year’ award at the Autocar Awards in 2023.
There are three versions of the TVS iQube available on the Indian EV market: the iQube, the iQube S, and the iQube ST. After the FAME II subsidy reduction (from 40% to 15%) and state subsidies, the on-road price in Delhi for the iQube and iQube S ranges from Rs 117,000 to Rs 124,000. It is worthwhile to note that before June 1, 2023, the on-road price for these two variants in Delhi was significantly lower at Rs 98,564 and Rs 108,690, respectively.
The latest iQube ST version offers a 140km range on a single charge. This is almost twice the distance the first-generation model could travel. The updated iQube model still has its all-LED lights and 12-inch wheels, but also has new connectivity features. These features are driven by different TFT instrument clusters, which vary depending on the model you choose. The iQube entry-level model has a 5-inch unit that supports turn-by-turn navigation, while the iQube S has a larger 7-inch TFT cluster that offers music controls and theme personalization. The top-end ST variant has a 7-inch touchscreen instrument cluster that is also ready for OTA updates and offers voice assistance.
TVS Motor Co has expanded the retail network for its iQube e-scooter since its launch. Currently, the iQube is available in over 140 cities and around 310 touchpoints across India. As part of its ongoing efforts to increase market penetration, TVS Motor Co has set a goal of expanding the iQube showroom network to nearly 600 touchpoints by the end of this year.
The esteemed company is dedicated to providing ease and convenience to iQube owners. Currently, they have access to a vast network of over 2,000 charging points. These charging points can be availed of through the widely acclaimed TVS iQube mobile application, which is seamlessly integrated with various renowned charging partners.
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