TVS Motor overtakes HeroMotocorp to regain no.2
Bhagyashree Vivarekar / 23 Feb 2017
TVS Motor Company Ltd. has regained second position in the Indian scooter market that it lost to Hero MotoCorp about a year ago.
TVS Motor Company Ltd. has regained second position in the Indian scooter market that it lost to Hero MotoCorp about a year ago.
The sustained demand for the products coupled and helped TVS Motor in its comeback. Also, TVS Motors' urban-rural balanced mix enabled the company to outgrow HeroMotocorp, which was relatively more impacted by demonetisation.
TVS total scooter sales stood at 6,77,172 units for (April 2016 to January 2017) period, while Hero's volume in the same period was about 6,58,255 units. To maintain the growth momentum, TVS Motor has revealed a BS IV-compliant variant of its scooter Wego in new colours, and it also plans to launch a new scooter called Graphite in FY2018. The scooter segment contributed almost 25 per cent to TVS Motor’s revenue, as on FY16.
In the recently concluded quarterly result for the December 31 2016, TVS Motors registered a PAT growth of 11 per cent yoy to Rs 177 crore, while its revenue grow by 2.8 per cent yoy to Rs 3,240 crore.
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