TVS Motors posts 14% sales growth, two wheeler sales up 15%

TVS Motors announced on Monday that it has clocked higher sales by 14% in July 2016.

The company’s sales increased from 218,321 units in July 2015 to 248,002 units in July 2016.

TVS Motor’s two wheeler sales were at 240,042 units up 15.4% from the same period last year.

In July 2015 the company recorded two wheeler sales at 208,044 units.

Domestic two wheeler sales grew by 18.7% increasing from 174,099 units in July 2015 to 206,605 units in July 2016 while scooters registered sales of 68, 033 units in July 2016 as against 69, 626 units in July 2015. 

The company reported net profit of two-wheelers increased to Rs. 121.25 crore as compared to Rs.100.08 crore from the same period last year.

Motorcycles sales grew by 23% increasing from 77,397 units in the month of July 2015 to 95,062 units in July 2016.

The company posted three wheeler sales of 7,960 units in July 2016 as against 10,277 units in July 2015.

However, exports of the company saw a decline from 42,677 units in July 2015 to 40,192 units in the month of July 2016. Two wheeler exports registered sales of 33,437 units in July 2016 as against 33,945 units in July 2015.

The company had reported a 21.2% increase in profit in the first-quarter ending June 30.