Motorcycles grow at 7%; Scooters at 35%; Exports clock 32% growth

Despite the two-wheeler industry being affected by continued high interest rates, lack of retail credit and the ongoing economic slowdown, TVS Motor Company has posted a growth of 13% registering total two wheeler sales of 107,301 units in February 2009 against 95,235 units in the corresponding period of the previous year. Cumulative growth in sales for the current financial year since April 2008 stood at 3%.

The Company exported 16,583 units of two wheelers in February 2009 as against 12,523 units in the corresponding period of the previous year, registering a growth of 32%. Exports continued its overall growth trend, registering 43% increase in cumulative sales for the period April 2008 to February 2009.

Motorcycle sales of the company stood at 49,659 units in comparison to 46,565 units recorded in February 2008, posting an increase of 7% over the same period of the previous year. Cumulative motorcycle sales for the period April 2008 to February 2009 recorded a 4% growth when compared to the same period of the previous year. Scooters posted a growth of 35% registering sale of 19,532 units in February 2009 when compared to 14,433 units that was recorded in February 2008.

TVS Motor Company bagged the prestigious EEPC (Engineering Export Promotion Council) award for outstanding contribution to engineering exports, winning this years Silver Shield for "Star Performer" as large enterprise, in the product group of two / three wheeler and parts, for the year 2006-2007. EEPC is an apex industry body set up by the Ministry of Commerce which recognizes corporate institutions that show outstanding achievements in exports.