For the month of October 2019, TVS Motor Company has recorded a month-on-month growth in sales of 2 per cent. For the aforementioned month, TVS registered a sales of 323,368 units. In comparison, the two-wheeler manufacturer sold 398,427 units during October 2018. TVS’ motorcycle sales stood at 125,660 units in October 2019 down from 150,429 units during the same month last year. On the other hand, scooter sales for the company stood at 121,437 units during October 2019 in comparison to October 2018 when the company sold 151,040 scooters in India. Exports for TVS grew by 20 per cent in October 2019 at 69,339 units in comparison to 57,926 units during October 2018. Three-wheeler sales for the company grew by 8 per cent last month.
Automakers in India are expecting sales to increase this festive season. The automobile industry has been facing one of its biggest slowdowns. Sales have dwindled and automakers have to observe production cuts at their respective manufacturing facilities.
With the Finance Minister announcing certain regulation changes and also clearing the confusing pertaining to the BS4 to BS6 transition, automakers have hopeful of an enthusiastic festive season. Sales in certain segments have shown growth. However, what remains to be seen is if the momentum continues post this festive season or not.
In order news, TVS and Bajaj have finally settled a patent infringement case on twin-spark technology. Both the companies have decided to withdraw pending proceedings. None of them is required to pay any compensation or penalty to the other as part of the said settlement.
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