Two wheeler segment of TVS has registered a marginal growth, while three wheelers has registered a decline
TVS Motor total sales of 287,398 units in Aug 2020 is down 1.05 percent, from 2,90,455 units reported in August 2019. TVS Motor Company reports 14 percent MoM sales growth in August 2020 up from 2,52,744 units in July 2020. MoM sales growth is a pattern that’s endorsed by most manufacturers.
This is on account of the fact that when business restarted in May 2020 in a phased manner, there were limitations galore. With every consequent review of ease of business, lockdown limitations have further lifted with manufacturers and dealerships depending on well structured SoPs to ensure staff and consumer safety.
Two Wheeler Sales
Total two-wheelers sales is reported at 2,77,226 units in August 2020, up 0.49 precent from 2,75,851 units in August 2019. Domestic two-wheeler sales fell 0.54 percent to 2,18,338 units from 2,19,528 units in August 2019. Motorcycle sales grew 9.58 percent to 1,19,878 units in August 2020, up from 1,09,393 units in August 2019.
Scooter sales fell to 87,044 units at sales decline of 20.34 percent from 1,09,272 units in August 2019. Total exports fell marginally at 1.94 percent at 68,347 units, down from 69,702 units in August 2019. Two-wheeler exports grew at 4.55 percent at 58,888 units, over 56,323 units exported in August 2019.
3 Wheeler Sales
Three-wheeler sales are registered at 10,172 units in August 2020, down 30.34 percent from 14,604 units in August 2019.?? The domestic three-wheeler segment is in a bit of a lurch considering most people have not been required to use public transport since offices have made work home a part of the solution. While market conditions continue to ease in terms of doing business, since lockdown began to be lifted in phases since May, the economic repercussion software the Covid-19 pandemic are still being evaluated.
In recent weeks, TVS Motor has carried out a few launches, as well as revised vehicle price. TVS Jupiter ZX with disk brake and i-Touchstart, and Ntorq Race Edition are new variant choices. The current price hike could be attributed changing market conditions, input cost increase, and current economic factors.
The Indian two wheeler market is of mammoth proportions in terms of demand and sales volume. Despite a pandemic slowdown, current sales trends denote heightened activity. In the current scenario, sales is backed by multiple factors. Deliveries that were deferred owing to lockdown are being dispatched.
To ensure financial freedom, a wider range of loan/financing options are now on offer. However, it should be kept in mind that the two-wheeler market isn’t completely dependent on vehicle financing. A good monsoon has improved disposable income, and agriculture has faired well. Buying trends also put to focus on markets outside of metros and big cities. In ensuring adequate physical distancing, personal mobility options are now a consideration. And then there’s the ever dependant festive season, a period that usually witnesses improved sales.