TVS Motor Company saw a massive 62 percent decline in its domestic two-wheeler sales for March 2020. The reason, of course, is a disruption because of the Coronavirus lockdown and poor market sentiment.

CarAndBike, By Kingshuk Dutta

© CarAndBike | Two-Wheeler Sales March 2020: TVS Sales See A Massive 55 Percent Decline In Sales

TVS Motor Company saw a huge 55 percent drop in its sales for March 2020. The reason, of course, is a disruption because of the coronavirus lockdown and the market sentiment hasn't been that great either. The company sold a total of 144,739 units in March 2020 as against 325,323 units in March 2019. Domestic two-wheeler sales were of 94,103 units in March 2020 as against 247,694 units in March 2019, which is a drop of 62 percent. The company sold a total of 133,988 two-wheelers in March 2020 against 310,885 units sold in March last year, which is a drop of 56.9 percent. Motorcycles sales included 66,673 units in March 2020 as against sales of 141,086 motorcycles in March 2019, a drop of 52.4 percent. Similarly, scooter sales of the company were pegged at 34,191 units in March 2020 as against sales of 98,477 units in March 2019, again a drop of 65.28 percent.

TVS's total exports were pegged at 50,197 units last month as against sales of 76,405 units in March 2019, seeing a drop of 34.3 percent. The company exported 39,885 two-wheeler units in March 2020 which is a massive drop of 93.69 percent, with two-wheeler exports standing at 63,191 units in March last year. The three-wheeler sales of the company were 10,751 units in March 2020 as against sales of 14,438 units in Mach 2019 which is a decline of 25.54 percent.

TVS said that due to the lockdown, there was a significant loss in production, and also vehicle stock in the factory for both domestic and international markets, which could not be dispatched. During the fourth quarter of FY20, two-wheeler sales registered in at 5.90 lakh units as against 8.66 lakh units registered in the fourth quarter of the previous year. Three-wheeler sales of the company grew by 3 percent from 0.41 lakh units in the fourth quarter of FY19 to 0.43 lakh units in the fourth quarter of the current year. During FY2019-20, TVS' two-wheeler sales were pegged at 30.89 lakh units as against sales of 37.57 lakh units in the FY2018-19, which is a drop of 17.78 percent.

This article was originally published by CarAndBike.
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