TVS Motor Company registers sales of 1.98 lakh units in June 2020, reports 33 percent decline
TVS Motor Company has registered a sales of 1,98,387 units in June 2020, which is 33 per cent lower compared to the company's performance in June 2019 where it sold 2,97,102 units. The Indian automobile major resumed operations in a phased manner at its factories in Hosur, Mysuru, and Nalagarh. TVS mentions, The market is opening up gradually post the lockdown, and we are witnessing a positive uptake in both domestic retail as well as exports. The company faced supply chain constraints in June, however, the company has undertaken various countermeasures, some of which have started yielding results in June itself. The company is expecting to overcome these in the month of July.
In terms of two-wheelers, TVS registered sales of 191,076 units in June 2020 as against 283,461 units in June 2019, decline of 32.59 percent. Domestic two-wheeler registered sales of 144,817 units in June 2020 as against 226,279 units in June 2019, amounting to a dip of 36 percent. The company's motorcycle sales stood at 84,401 units in June 2020 as against 131,331 units in June 2019, down by 35.73 percent, scooter sales were 65,666 units in June 2020 as against 99,007 units in June 2019, drop of 33.67 percent. Total exports done by TVS were 53,123 units in the month of June 2020 as against 69,900 units in June 2019 registering a drop of 24 percent. Two-wheeler exports registered sales of 46,259 units in June 2020 as against 57,182 units in June 2019, amounting to a dip of 19 percent. Three-wheeler sales were 7,311 units in June 2020 as against 13,641 units in June 2019.
During the first quarter of the current financial year, two-wheelers posted sales of 2.55 lakh units as against sales of 8.84 lakh units in the first quarter FY 19-20. Three-wheeler of the company registered sales of 0.11 lakh units in the first quarter of the current year as against 0.39 lakh units in the first quarter of FY 19-20.
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