Hosur-based two-wheeler manufacturer TVS Motor Company recorded a marginal one per cent growth in January 2015, compared to the same period a year ago. The company sold 1,81,516 two-wheelers in the previous month, though this number could have been much bigger hadn’t it been for the planned production cuts due to annual maintenance and Pongal holidays.
TVS’ two-wheeler exports grew from 19,232 units in January 2014 to 23,438 in the last month. While overall scooter sales grew by a significant 24 per cent, motorcycle sales also witnessed a jump of seven per cent.
Driven by consistent performance in the previous months, TVS’ revenue in the third quarter grew by 29 per cent. The company raked in Rs 2,653 crore in the October to December 2014 period, as opposed to Rs 2,058 crore it had managed in the same period, a year ago. The quarter saw an overall growth of 22 per cent in two-wheeler sales, while exports grew by 37 per cent.
With scooter sales in India growing by leaps and bounds, TVS has a definite advantage owing to the wide range of scooters in its portfolio. Riding on this increased demands for scooters, TVS recently launched a special edition of the Jupiter scooter, which retails at Rs 2,000 more than the regular counterpart.
