TVS domestic sales plunge 27% for February
Hosur based auto-maker, TVS Motor Company has taken a huge blow in terms of its domestic sales figures which have dived to 1,69,684 units in February 2020 as against 2,31,582 units in February 2019. This is a direct 26.7% fall in comparison to the units sold last year in the same month.
Other than this, the overall sales figures (domestic plus export) were down to 2,53,261 unit in February 2020 as against the 2,99,353 units in February 2019, these figures translate to a fall of 15.4%.
While domestic sales fell flat on the face, the export figures stood strong and grew by 25%. The company sold 82,877 units in February 2020, against the 66,570 units sold in February 2019. The two-wheeler exports swole to 23%, touching 66,207 units in February 2020 against the 54,029 units in the same month of 2019.
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The TVS three-wheeler sale ballooned to 26% from 13,742 units in February 2019 to 17,370 units in last month (February 2020).
Motorcycles continue to remain the volume driver for the company as it sold 1,18,514 units of the same in February 2020 as against 60,633 units of scooters during the same period. The motorcycle sales stumbled by 3.3% from 122,551 units in February 2019, while the scooter sales fell by over 30% from 86,935 units in the same month of 2019, which is an alarming figure for the firm.
The company is currently transitioning from BS 4 to BS 6 and is prepping to update its full line-up to required the BS 6 standards on or before the April 1, 2020 deadline. The firm is reducing its current BS 4 stocks and plans on emptying the same within the March 2020 timeline.
"TVS Motor Company is on track to reducing dealer level BS 4 stocks in the domestic market and is confident of retailing it this month. In addition, the outbreak of pandemic Coronavirus (COVID-19) has led to impact on supply of certain components for production of BS-VI vehicles. All efforts are on to normalise this at the earliest", the company announced.