TVS Motor slumps 3% after recording sales of 2.87 lakh units in August 2020

Investments selling bias was despite the automaker registering a 13% month-on-month growth in sales volume for August 2020.

Sep 02, 2020 11:09 IST India Infoline News Service

Two-wheeler and three-wheeler manufacturer, TVS Motor has dived by 3% on Wednesday after recording an intraday low of Rs427 per piece in early deals of Sensex. Investments selling bias despite the automaker registering a 13% month-on-month (MoM) growth in sales volume for August 2020. In the latest month, the company sold 2,87,398 units as against 2,52,744 units in July 2020.

However, sales were gradually down against  2,90,455 units registered in August 2019.

In the two-wheeler segment, the company sold 2,77,226 units in August 2020 as against 2,75,851 units in August 2019. Domestic two-wheeler registered sales of 2,18,338 units in August 2020 as against 219,528 units in August 2019.

Meanwhile, motorcycle sales were at 1,19,878 units in August 2020 as against 1,09,393 units in August 2019. Scooter sales of the Company registered 87,044 units in August 2020 as against 1,09,272 units in August 2019.

As for the three-wheeler segment, the company witnessed sales of 10,172 units in August 2020 as against 14,604 units in August 2019.

Moreover, exports stood at 68,347 units in the month of August 2020 as against 69,702 units in August 2019. Two-wheeler exports registered sales of 58,888 units in August 2020 as against 56,323 units in August 2019.

At around 11.18 AM, TVS Motor was trading at Rs429.95 per piece down 2.42% on Sensex. 

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