TVS Motor Company, one of India’s leading two-wheeler manufacturers, has announced a remarkable 4% surge in total sales for the month of July. Despite the ongoing challenges posed by the COVID-19 pandemic, the company managed to record positive growth and surpass market expectations.
The company’s total sales for July stood at 2,42,742 units, compared to 2,34,616 units in the same month last year. This growth can be attributed to the strong performance of their motorcycles and scooters segments, which witnessed an 8% and 3% increase in sales respectively. The total exports also witnessed an impressive growth of about 21% with the company shipping 90,743 units last month.
TVS Motor Company has been consistently implementing measures to navigate through the pandemic-induced difficulties. The company has adopted various safety protocols, while also focusing on digital initiatives to engage with customers. These strategies have helped them maintain a steady growth trajectory amid the challenging market conditions.
This notable sales growth can also be attributed to the positive demand generated by the rural markets of India. With public transportation limited due to the pandemic, more people are opting for personal vehicles, particularly in rural areas. This trend has worked in favor of two-wheeler manufacturers like TVS Motor Company.
Despite the positive sales figures, the company has not become complacent. It continues to invest in research and development to introduce innovative products in the market. Additionally, TVS Motor Company is also expanding its production capacity and dealership network to meet the growing demand.
Overall, TVS Motor Company’s 4% jump in total sales for July showcases the company’s resilience and adaptability in the face of an unprecedented crisis. As the economy gradually recovers, it is expected that the company will further consolidate its position in the Indian two-wheeler market.