TVS Motor on Monday announced that its sales declined 10% to 355,033 units sold in October 2021 as against sales of 394,724 units sold in the month of October 2020.
Domestic two-wheeler registered sales of 258,777 units in October 2021, 14% lower than sales of 301,380 units sold in October 2020. With pandemic restrictions easing and the festive season soon approaching, the company expects the retails to improve significantly in the coming months. Motorcycle registered sales of 172,361 units in October 2021, 0.5% lower than sales of 173,263 units in October 2020. Scooter sales of the company fell 11% year on year to 113,124 units in October 2021 as against sales of 127,138 units in October 2020.The company's total exports registered a growth of 3% with sales of 95,191 units in the month of October 2021 as against 92,520 units in October 2020. Two-wheeler exports registered a growth of 3% with sales of 82,736 units in October 2021 as against sales of 80,741 units in October 2020.
Three-wheeler sales of the company registered a growth of 7% with 13,520 units in October 2021 as against sales of 12,603 units in October 2020.
TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer. The company's consolidated net profit jumped 29.2% to Rs 234.37 crore on a 23.4% surge in net sales to Rs 6,483.42 crore in Q2 FY22 over Q2 FY21.
Shares of TVS Motor were trading 0.23% lower at Rs 664.40 on BSE.
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