Coronavirus lockdown pulls TVS Motor Company sales to less than half in March
TVS Motor Company on Thursday announced that it has sold just 144,739 units in March 2020 in comparison to 325,323 units sold in the same period a year ago.
"There has been a huge impact on the Company’s production and sales this month because of Covid-19 lockdown across the country", the company said in a press release today.
It further added, "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."
TVS sold a total of 133,988 units in March 2020, as against 310,885 units in March 2019. In term of domestic sales, the number were terribly down to 94,103 units in March 2020, as against 247,694 units in the corresponding month of 2019.
Talking strictly about motorcycles sales, TVS registered 66,673 units sales in March 2020, as against 141,086 units in March 2019. The scooter sales stood at 34,191 units in March this year, as against 98,477 units in March 2019.
In terms of total exports, the company registered sales of 50,197 units last month, as against 76,405 units in March 2019.
The overall two-wheeler sales during the FY 2019-20 dipped to 30.89 lakh units in comparison to 37.57 lakh units in the last FY 2018-19.
The three-wheeler sales during the same period grew by 11% from 1.56 lakh units in the FY 2018–19 to 1.74 lakh units in the FY 2019-20.
On the sidelines, the company also announced that it started the transition to BS 6 well in advance in third-quarter of FY 19-20, this helped the company 'in complete readiness of BS 6 model's supplies in fourth-quarter. Also, it mentioned that its dealerships across the country have almost entirely sold the BS 4 stocks.