TVS Motor’s sales dip in FebruaryMarch 3rd, 2008 - 2:36 pm ICT by admin
Chennai, March 3 (IANS) Two-wheeler maker TVS Motor Co Ltd Monday said sales had gone down during February 2008, compared to the same month last year. In February 2008 TVS sold 95,235 units as against 120,110 sold in February 2007.
Exports accounted for 12,523 units in February 2008 as against 8,017 units in the corresponding period of the previous year, thereby recording around 56 percent growth.
The company attributed reduced sales to restricted retail finance and high interest rates.
These apart, the injunction and the subsequent court ban on the sale of 125 cc TVS Flame bike with twin plug technology after a legal spat with Bajaj Auto Ltd also contributed to lower sales.
In early February 2008, the company launched its first Electric Scooter, TVS Scooty Teenz Electric in Gujarat.
The product has been well received in that market and will be launched nationwide over the next three months.
The company has planned several launches in March 2008 in the two and three wheeler segments.
New launches include the new Flame motorcycle that will use a new and unique engine, specially developed, patented and licensed to TVS Motor by AVL, Austria.
This engine features a 3-valve dual induction system utilizing universally accepted and traditionally proven single spark plug ignition.
The company will also launch the new the Apache RTR EFi and make its foray into the three-wheeler market.
TVS Motor is yet to decide on a price revision after the 4 percent reduction in excise duty announced by Finance Minister P. Chidambaram.
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Tags: bajaj auto ltd, court ban, dual induction, electric scooter, excise duty, finance minister, high interest rates, induction system, new flame, new launches, p chidambaram, plug technology, price revision, retail finance, s sales, scooty teenz, single spark, three wheeler, tvs scooty, two wheeler