TVS Motor Company saw a massive 62 per cent decline in its domestic two-wheeler sales for March 2020. The reason of course, is a disruption because of the Coronavirus lockdown and poor market sentiment.
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.
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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.
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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