TVS Motor Company saw a huge 55 per cent drop in its sales for March 2020. The reason of course, is a disruption because of the coronavirus...
TVS Motor Company saw a huge 55 per cent drop in its sales for March 2020. The reason of course, is a disruption because of the coronavirus lockdown and the market sentiment hasn't been than great either. The company sold a total of 144,739 units in March 2020 as against 325,323 units in March 2019. Domestic two-wheelers sales were of 94,103 units in March 2020 as against 247,694 units in March 2019, which is drop of 62 per cent. The company sold a total of 133,988 two-wheelers in March 2020 against 310,885 units sold in March last year, which is a drop of 56.9 per cent. Motorcycles sales included 66,673 units in March 2020 as against sales of 141,086 motorcycles in March 2019, a drop of 52.4 per cent. Similarly, scooter sales of the company were pegged at 34,191 units in March 2020 as against sales of 98,477 units in March 2019, again a drop of 65.28 per cent.
Also Read: TVS Group Pledges Rs. 25 Crore To PM Relief Fund For Battling Coronavirus
(TVS says that it has completed its full transition from BS4 to BS6 in India)
TVS' total exports were pegged at 50,197 units last month as against sales of 76,405 units in March 2019, seeing a drop of 34.3 per cent. The company exported 39,885 two-wheeler units in March 2020 which is a massive drop of 93.69 per cent, with two-wheeler exports standing at 63,191 units in March last year. The three-wheeler sales of the company were 10,751 units in March 2020 as against sales of 14,438 units in Mach 2019 which is a decline of 25.54 per cent.
Also Read: TVS' Indonesia Plant Resumes Operations
TVS said that due to the lockdown, there was a significant loss in production, and also vehicle stock in the factory for both domestic and international markets, which could not be dispatched. During the fourth quarter of FY20, two-wheeler sales registered in at 5.90 lakh units as against 8.66 lakh units registered in the fourth quarter of the previous year. Three-wheeler sales of the company grew by 3 per cent from 0.41 lakh units in the fourth quarter of FY19 to 0.43 lakh units in the fourth quarter of the current year. During FY2019-20, TVS' two-wheeler sales were pegged at 30.89 lakh units as against sales of 37.57 lakh units in the FY2018-19, which is a drop of 17.78 per cent
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