TVS Motor Company has announced a 10.7 per cent jump in two-wheeler sales in March 2017 compared to the corresponding period in the previous year. The company sold 2.5 lakh motorcycles and scooters in the last month, retaining the third spot in the Indian two-wheeler industry.
Of the total sales, TVS sold 2.16 lakh two-wheelers in the domestic market which is 8.4 per cent higher than March 2016. The export numbers on the other hand, grew by 28.5 per cent as the company shipped off 33,984 two-wheelers to its global markets. Though TVS motorcycles continue to outsell the scooters, the sales of the latter grew by 23.5 per cent as opposed to the 10.3 per cent jump in motorcycle sales.
As for the quarterly performance, sales grew by 3.2 per cent over the fourth quarter of the last financial year. This relatively mediocre growth can be attributed to demonetisation. Nevertheless, TVS has done a good job of getting back on track post the drop in demand in the third quarter. With the Indian two-wheeler industry moving to BS IV emission norms, the company had rolled out cashback schemes in an attempt to clear the old stock. This also seems to have contributed to the growth in the last month.
