TVS Motor Company has announced that its 100cc motorcycle, TVS Sport, has set a new record of the ‘highest fuel efficiency delivered by a motorcycle on the Golden Quadrilateral’ in the India Book of Records and Asia Book of Records. “This feat was achieved by Pavitra Patro who completed the Golden Quadrilateral, and chose TVS Sport to complete this record. The ride saw Pavitra traverse 6,377-km across the country to achieve the record with an on-road mileage of 76.4kpl,” the company said in a statement.
New Delhi: TVS Motor Company on Saturday said its Singapore arm has invested USD 3.2 million in US-based Predictronics Corporation which specialises in providing end-to-end predictive maintenance analytics solutions.
TVS Motor (Singapore) Pte Ltd, a wholly owned subsidiary, has signed definitive agreements with Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, the company said in a statement.
With sales subdued and inventory with dealers piling up, two-wheeler makers like Bajaj Auto and TVS Motor have started facilitating zero-interest loans in select states to woo buyers. Meanwhile, Hero MotoCorp has dropped the interest on loans to 7% from the prevailing 10-12%. Manufacturers are offering these soft loans via their finance arms — TVS Credit, Hero FinCorp and Bajaj Auto Finance. The offer is currently available in some markets.
New Delhi: TVS Motor Co Thursday reported 12.98 per cent decline in total sales at 2,79,465 units in July.
The company, which makes two-wheelers and three-wheelers, had sold 3,21,179 units in the same month last year, TVS Motor Co said in a statement. Total two-wheeler sales during the month stood at 2,65,679 units as against 3,07,856 units in July 2018, down 13.7 per cent.
In an effort to combat subdued sales, Bajaj Auto and TVS Motor Co are taking measures like trimming prices by anywhere between Rs 500 and Rs 2,000 on some products. For their part, some dealers are also sacrificing a part of their margins. Prices of two-wheelers have risen over the past year on several counts, including higher insurance costs and because vehicles needed to fitted with anti-lock braking systems from April 1, 2019.
Shares of TVS Motor Company hit an over two-year low of Rs 361, down 5 per cent in Tuesday's early morning trade on the BSE after reporting a 3 per cent decline in net profit at Rs 142 crore for the first quarter of fiscal 2020 (Q1FY20), on muted volume, and higher depreciation, interest cost and tax rate.
The stock hit its lowest level since January 3, 2017.
TVS Motor Chairman and Managing Director Venu Srinivasan said on Monday that the industry is in talks with the government on NITI Aayog's proposal to switch over to electric vehicles by 2025 and hopes to see a pragmatic policy to come through the next few months. Asserting that hybrid vehicles would be a better option in terms of environment-friendliness, he told shareholders today that the company would be coming out with an electric two-wheeler in the near future.
Reflecting the broad-based slowdown in consumption, two-wheeler sales in India for scooters and motorcycles, showed no signs of turning the corner in June, as most companies crimped dispatches to align demand to supply. Combined sales of top six makers skidded 11% to 1,608,395 units during the month over the same period a year ago, showed monthly sales data released by companies.
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