TVS Motor Company has reported a sales decline of 15.3 percent in August year-on-year. The company's sales figures conforms with the trend from the automobile industry where all major manufacturers have recorded a steep fall in sales
in August due to economic slowdown.
TVS registered sales of 290,455 units last month, a 15.3 percent decline from the 343,217 units the company sold in the same month last year. However, the August sales figure show a minor uptick from the 279,465 units the company sold in July this year.
TVS' two-wheeler division recorded sales of 275,851 units last month which is a 16.4 percent decline from the 330,076 units the company sold in August 2018. In the Indian market, the company sold 219,528 units against the 275,688 it sold last August, a 20.3 percent fall.
Total motorcycle sales of the company registered 109,393 units in August 2019 as against sales of 131,743 units in August 2018, while it registered 109,272 units of scooter sales last month against 126,676 units it sold in the corresponding month last year.
However, TVS' exports saw a 6 percent increase YoY. The Tamil Nadu-based manufacturer exported 69,702 units last month against 66,028 units in August 2018.
Three-wheeler sales of the company saw a double digit uptick with an 11 percent increase. TVS sold 14,604 units last month against 13,141 it did in August 2018.