TVS Motor Company slips after February sales falls 5% YoY to 2.81 lakh units

2 Mar 2022 , 10:10 AM

The total two-wheelers registered a sales of 2,67,625 units in February 2022 as against sales of 2,84,581 units in February 2021, recording a fall of 5.95% Y-o-Y. Domestic two-wheeler registered a sales of 1,73,198 units in February 2022 as against sales of 1,95,145 units in February 2021, recording a 11.24% drop Y-o-Y.

Motorcycle sales grew 5% increasing to 143,523 units in February 2022 from 1,37,259 units in February 2021. Scooter sales of the company registered 86,616 units in February 2022 as against a sale of 95,525 units in February 2021, falling 9.32% Y-o-Y.

The shortage in supply of semiconductors has impacted the production and sales of premium two-wheelers. We are cautiously optimistic that the supply of semiconductors will improve in the coming months, the company stated in its press release.

The companys total exports grew 6% to 1,07,574 units in February 2022 from 1,01,789 units in the month of February 2021. Two-wheeler exports rose 6% to 94,427 units in February 2022 from 89,436 units in February 2021. Three-wheeler sales of the company grew 7% to 14,089 units in February 2022 from 13,166 units in February 2021.

TVS Motor Company posted a 18.3% decrease in consolidated net profit to Rs 236.56 crore on a 8.2% rise in net sales to Rs 6,597.35 crore in Q3 FY22 over Q3 FY21.

TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.

Powered by Capital Market – Live News