TVS Motor Company posts 13% growth in February 2009
Motorcycles grow at 7%; Scooters at 35%; Exports clock 32% growth
Despite the two-wheeler industry being affected by
continued high interest rates, lack of retail credit and the ongoing
economic slowdown, TVS Motor Company has posted a growth of 13%
registering total two wheeler sales of 107,301 units in February 2009
against 95,235 units in the corresponding period of the previous year.
Cumulative growth in sales for the current financial year since April
2008 stood at 3%.
The Company exported 16,583 units of two wheelers in February 2009 as
against 12,523 units in the corresponding period of the previous year,
registering a growth of 32%. Exports continued its overall growth trend,
registering 43% increase in cumulative sales for the period April 2008
to February 2009.
Motorcycle sales of the company stood at 49,659 units in comparison to
46,565 units recorded in February 2008, posting an increase of 7% over
the same period of the previous year. Cumulative motorcycle sales for
the period April 2008 to February 2009 recorded a 4% growth when
compared to the same period of the previous year. Scooters posted a
growth of 35% registering sale of 19,532 units in February 2009 when
compared to 14,433 units that was recorded in February 2008.
TVS Motor Company bagged the prestigious EEPC (Engineering Export
Promotion Council) award for outstanding contribution to engineering
exports, winning this years Silver Shield for "Star Performer" as large
enterprise, in the product group of two / three wheeler and parts, for
the year 2006-2007. EEPC is an apex industry body set up by the Ministry
of Commerce which recognizes corporate institutions that show
outstanding achievements in exports.