TVS Motor sales slump 8% to 184,901 units in Dec

The Dollar Business Bureau

TVS Motor Company on Monday announced its December sales, which registered a 8.47% decline to stand at 184,901 units in December.

The Chennai-based automobile manufacturer had sold 202,021 units in December 2015.

The company’s total two-wheeler sales fell 7.47% to 179,508 units during the month, while the three-wheelers sales also plummeted 32.8% to 5,393 units.

Total exports during the month also declined 6.15% to 31,694 units as against 32,706 units in December 2015. Exports of two-wheelers, however, grew marginally to 26,095 units from 25,841 units on a year-on-year basis.

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.

However, the decline in TVS’ sales was significantly less than the total two-wheelers sales of Hero MotoCorp and Bajaj Auto Ltd.

Hero MotoCorp Ltd.’s sales nosedived 34% in December, while Bajaj Auto Ltd.’s sales contracted 22%, as Prime Minister Narendra Modi’s demonetisation scheme hit the company’s sales in the rural areas.