TVS Motor Company reported development in May 2022, however a scarcity within the provide of semiconductors impacted the manufacturing and gross sales of premium two-wheelers. The Hosur-based firm recorded 3,02,982 models, as in comparison with 1,66,889 models offered in May 2021, registering a development of 81.55 per cent. The localised lockdown imposed by the Government of India in May 2021 largely impacted the corporate for the low base of gross sales. However, the corporate mentioned it’s engaged on alternate assets to regularise the manufacturing capability on the earliest.
An announcement launched by TVS mentioned, “We are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels once the semiconductor supplies improve.”
TVS reported wholesome development in home gross sales of its two-wheeler portfolio as the corporate registered 2,87,058 models in May 2022, in comparison with the 154,416 models offered in May 2021, rising by 85.9 per cent. The bike vary additionally grew by 18.67 per cent, as the corporate recorded 148,560 models in May 2022, towards 125,188 models offered in the identical interval final yr. Then once more, the scooter gross sales of the corporate grew from 19,627 models in May 2021 to 1,00,665 models in May 2022, a development of 412.89 per cent.
However, the export gross sales weakened throughout May 2022 because it shipped a complete of 1,10,245 models as in comparison with 1,10,245 models, a degrowth of three.86 per cent. Even the two-wheeler exports recorded gross sales of 95,576 models in May 2022 as towards 102,332 models in May 2021, a decline in gross sales by 6.6 per cent.