TVS Motor Company Sales Slip 13 Per Cent In July 2019

Sales of TVS Motor Company slid 13 per cent in July 2019 in the middle of a slowdown in the Indian auto industry.

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TVS Motor Company sales under pressure in July 2019 amidst industry slowdown

Highlights

  • TVS two-wheeler sales slip 14 per cent in July 2019
  • Domestic two-wheeler sales fall 17 per cent in July 2019
  • Motorcycle and scooter sales each fall over 11 per cent in July 2019

In the middle of a slowdown in the Indian auto industry, TVS Motor Company registered sales of 2,79,465 units in July 2019, compared to 3,21,179 units in the same month a year ago, a drop in 12.9 per cent of overall sales. Total two-wheeler sales of TVS slipped by nearly 14 per cent from 3,07,856 units in July 2018 to 2,65,679 units in July 2019. The slowdown in the domestic auto market is apparent in the sales numbers of TVS Motor Company, with two-wheelers sales in the domestic market slipping 17.2 per cent to 2,08,489 units in July 2019, from 2,47,382 units in July 2018.

Also Read: TVS Motor Company Q1 Net Profit Slips 3 Per Cent

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TVS Motor Company's motorcycle sales fell nearly 11 per cent in July 2019, with sales of 1,08,210 units from 1,21,434 units sold in the same month a year ago. Scooter sales also fell by more than 11.5 per cent in July 2019, when TVS registered sales of 1,05,199 units, as compared to 1,18,996 units sold in the same month a year ago. In the export markets too, TVS suffered lower sales figures than usual, with total exports of 69,994 units in July 2019. Overall exports slipped more than 3 per cent from 72,242 in July 2018. TVS Motor Company's two-wheeler exports fell by more than 5 per cent, with total two-wheeler exports for July 2019 at 57,190 units, as against 60,474 units in July 2018.

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TVS Motor Company also announced its first quarter results for the current financial year (FY 2019-20) and the results showed the company's net profit slipping by 3 per cent, although revenue grew by 7 per cent. In June 2019, TVS sales slipped more than 6 per cent as the entire auto industry reels under a slowdown.

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