Companies

TVS Motor reports 18% drop in two-wheeler sales in FY20 due to virus lockdown

Our Bureau Chennai | Updated on April 02, 2020 Published on April 02, 2020

However, three-wheeler sales grow 11 per cent in the same period.

 

 

Leading two and three-wheelers major TVS Moot Company has reported an 18 per cent decline in its total two-wheeler sales at 30.89 lakh units for 2019-20 when compared with 37.57 lakh units in 2018-19.

However, three-wheeler sales of the company grew 11 per cent to 1.74 lakh units from 1.56 lakh units, according to a company statement.

For March 2020, the company's total two-wheeler sales stood at 1,33,988 units as against 3,10,885 units in March 2019 as the company's production and sales during the month were impacted due to Covid-19 lockdown across the country.

Domestic two-wheeler sales stood at 94,103 units in this March (against 247,694 units in March 2019). Motorcycles sales fell to 66,673 units (141,086 units), while scooter volumes declined to 34,191 units (98,477 units)

The company's total exports stood at 50,197 units in March 2020 as against 76,405 units in March 2019. Two-wheeler exports were at 39,885 units (63,191 units).

The company said it's fully geared up to retail its BS-VI range once the market opened. As the company started the transition to BS-VI in Q3 of FY20, it helped in complete readiness of BS-VI vehicle supplies in Q4. So, the company and dealers have almost entirely retailed all BS-IV vehicles.

TVS Motor Company launched attractive and feature-rich BS-VI versions of its entire portfolio. These have been well-received, and there are adequate stocks already in the market when it reopens. International market demand was also good for both two-wheeler and three-wheeler categories.

However, due to the lockdown, there was a significant loss in production, and despatch for both domestic and international markets was affected.

Published on April 02, 2020

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