TVS Motor Company's Exports Double in Nov 2008; Company posts 98,402 two wheeler sales
TVS Motor Company has registered two wheeler sales
of 98,402 units in November 2008 against 112,766 units in the
corresponding period of the previous year.
Exports posted the highest ever growth, with sales doubling when
compared to the same period of the previous year. The company exported
20,911 units of two wheelers in November 2008 as against 10,408 units in
the corresponding period of the previous year. Exports of the company
witnessed continuous growth since April this year, recording cumulative
growth of 54% during April to November of the current fiscal year.
Motorcycle sales of the company stood at 45,276 units in comparison to
57,113 units recorded in November 2007. General inflationary trends,
liquidity crunch and the continuing adverse impact of rising interest
rates with restricted availability of retail finance affected sales. In
addition, November 2007 had the extra benefit of festival sales.
In a concerted move to enhance sales, the company has entered into an
agreement with IndusInd Bank to provide inventory funding to dealers of
TVS Motor Company. This tie-up enables TVS Motor Company to strengthen
the distribution channel and will enhance the working capital for the
dealers. This facility is in addition to a similar arrangement with