TVS Motor Sales Jump 26% In September
TVS Motor saw a robust growth in sales, despite being dragged down by exports.
TVS Motor Company Ltd. jumped after it reported 26 percent jump in sales in the month of September despite a production disruption.
TVS sold 2.93 lakh vehicles compared to 2.32 lakh units in September 2015, according to the company's exchange filing. “Supply chain disruption” caused the loss of 25,000 units in production, the company added.
Sales of motorcycles jumped 35.9 percent to 1.22 lakh, while sales of scooters grew 12.7 percent to 75,307, pushing total sales of two-wheelers higher by 30.1 percent to 2.87 lakh.
Three-Wheelers Drag
Sales of three-wheeler vehicles dropped 50.6 percent to 5,808 units. Sluggish performance of the three-wheeler division weighed on exports too.
Total exports fell 7.9 percent to 38,164 units, despite an 8.3 percent increase in exports of bikes and scooters as exports of three-wheelers fell 55.4 percent to 4,689 units.
TVS Motor shares rose as much as 4.7 percent to Rs 383.2 after the announcement, before closing 3.3 percent higher.