According to sources the TVS Motor Company, India’s fourth-largest two wheeler maker, is banking on rural buying in south India to sustain its double-digit growth momentum and plans to invest Rs 600 crore to expand its product range and distribution network. The demand for the brand remains strong, the company said, with retail volumes growing over 20% during Dussehra and Diwali and the momentum are expected to continue.
Meanwhile TVS Motor’s two-wheeler sales grew 14% in the first half of the financial year, exceeding the market rate. Even after the wholesale push ahead of the festive season, stock levels are at a very reasonable level, indicating that strong retail off take is intact, SG Murali, outgoing CFO of TVS Motor, told ET.
He said “Festival season for us has been good
we have grown across products, the mood is bullish, stock levels at the dealer
are very reasonable. We would like to continue our double digit growth for the
rest of the year,” said Murali. Dealer inventory levels are about 30 days
currently".
