TVS Motor’s Sales Drops 8% In December
Sale of two-wheelers dropped 7.5% while sale of three-wheelers plummeted 32.8%.
TVS Motor Company Ltd.’s sales dropped 8.5 percent in December, but the fall was lesser than that of its larger rivals in the two-wheeler space.
The company sold 1,84,901 units in December 2016, compared to 2,02,021 units in December 2015, the company said in a statement to the exchanges. Hero MotoCorp Ltd.’s sales plunged 34 percent in December, while Bajaj Auto Ltd.’s sales declined 22 percent, as demonetisation took a toll on rural demand.
Sale of TVS’ two-wheelers dropped 7.5 percent to 1,79,508 units, while the sale of three-wheelers plummeted 32.8 percent to 5,393 units.
Total exports declined 6.1 percent to 31,694 units compared to 32,706 units in December 2015. Exports of two-wheelers, however, rose marginally to 26,095 units from 25,841 units on a year-on-year basis.
The Chennai-based company’s sale of two-wheelers grew 3.9 percent in the October to December quarter.