TVS Motor Company posted a sales growth of 10% during the month of March 2017, with total sales increasing from 232,517 units recorded in the month of March 2016 to 256,341 units in the month of March 2017.
Total two-wheeler sales increased by 10.7% from 226,643 units recorded in March 2016 to 250,979 units in March 2017. Domestic two-wheelers sales grew by 8.4% from 200,190 units in March 2016 to 216,995 units registered in March 2017.
Scooter sales of the Company grew by 23.5% increasing from 68,161 units in March 2016 to 84,173 units in March 2017. Motorcycles sales grew by 10.3% increasing from 86,776 units in the month of March 2016 to 95,671 units in March 2017.
Three-wheeler of the Company registered sales of 5,362 units in March 2017 as against 5,874 units in March 2016.
The Company’s total exports grew by 23.6% increasing from 31,121 units in March 2016 to 38,462 units in the month of March 2017. Two-wheeler exports registered growth of 28.5% increasing from 26,453 units in March 2016 to 33,984 units in March 2017.
Fourth Quarter Sales Performance
During the fourth quarter of the current financial year, two-wheeler sales grew by 3.2 % increasing from 6.39 lakh units registered in the fourth quarter of the previous year to 6.59 lakh units in the quarter under review. Three-wheeler sales of the Company was at 0.15 lakh units in the fourth quarter of the current year as against 0.21 lakh units in the fourth quarter of the previous year.
Transition from Bharat Stage III (BS III) to Bharat Stage IV (BS IV)
The Company had commenced manufacture and sale of BS IV compliant stocks much before the transition date of March 31, 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on March 29, 2017 by its order, the Honourable Supreme Court of India permitted sale of such BS III emission compliant products only up to March 31, 2017. Accordingly, the Company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by March 31, 2017. The Company is assessing the one-time impact of this transition on the financials of the Company.