TVS Motor reports 5% drop in February sales at 2,81,714 units

Two-wheeler major TVS Motor Company registered a five per cent drop in overall sales in February at 2,81,714 units. The company had sold 297,747 units in the month of February last year. Total two-wheeler sales stood at 267,625 units last month as compared to 284,581 units in corresponding month a year ago.

The company's domestic two-wheeler sales stood at 173,198 units in February of 2022 as against sales of 195,145 units in the year-ago period. The company attributed the fall in sales to the shortage in supply of semiconductors, saying that the chip crisis has significantly impacted the production of premium two-wheelers. “We are cautiously optimistic that the supply of semiconductors will improve in the coming months," it said in a statement.

Three-wheeler sales of TVS Motor grew by seven per cent from 13,166 units in February 2021 to 14,089 units in the year-ago period. Total exports of the company last month grew by six per cent to 1,07,574 units as against 1,01,789 units in February of 2021.

In fact, the company recently announced that it clocked one million units of two-wheeler exports in FY21-22, achieving the export milestone in a financial year for the first time. Key export models included the TVS Apache series, TVS HLX series, TVS Raider and TVS Neo series.

The company attributed the export milestone to a significant rise in global motorcycle sales. The two-wheeler company has a presence in 80 countries around the world including in the regions of Africa, Southeast Asia, Indian sub-continent, and Central and Latin America. It is also looking to enter markets in Europe and North America as it envisions becoming a global player in personal mobility solutions.

In a separate development, TVS Motor, earlier this month, registered the Fiero 125 nameplate in the country. The new trademark has been given validity up to November 2, 2030.