TVS Motor Company announced a seven per cent increase in overall sales for February 2014. The company sold 1,77,662 units as compared to 1,65,696 units in the same month last year. This includes two-wheelers as well as three-wheelers.
Scooter sales grew by 37 per cent during the same period, while motorcycle sales also showed a growth of three per cent. Sales of scooters increased to 41,990 units in February 2014 from 30,611 units sold in the corresponding period last year. The motorcycles sales showed growth as 62,762 units were delivered to customers in the same month this year. The company had sold 60,985 motorcycles in February 2013.
The recently announced excise duty cut declared during the interim budget should have a good effect on the sales numbers for all manufacturers. TVS says it passed on the entire benefit of the excise duty reduction to its customers. They reduced the prices across their portfolio ranging from Rs 850 to Rs 3,500.
Considering all manufacturers are doing well in the sales of the scooter segment, it is no surprise that TVS could also manage to boost their sales as they launched the TVS Jupiter last year. This scooter has been enjoying a good demand in the Indian market eventually helping in the growth of sales. With the sluggish growth of TVS in the motorcycle segment, it is quite evident that the company needs new products or atleast some refreshed new motorcycles.
The company plans to introduce a new range of Apache motorcycles next year. With the introduction of a motorcycle from the 250cc segment, the company will not only make its presence felt in that segment but probably also boost their sales.