TVS DEFIES STAGNANT INDIAN MARKET

Indian motorcycle manufacturer TVS Motor, which is currently gearing up to produce small-capacity BMW Motorrad budget products for global markets under contract, has unveiled impressive results for its third financial quarter to 31 December 2013.
 
Total sales during the period rose by 1.8 per cent to 512,000 units, with both motorcycles and scooters claiming slight domestic-market increases, bucking declines experienced by India’s other indigenous bike brands. But exports boomed, with a 22 per cent rise to 61,000 powered two-wheelers. TVS three-wheeler light trucks and taxis also did well, stacking on 52 per cent to 20,700 units.
 
Resultant quarterly revenue rose by 12.9 per cent to £199.4m. Net profit climbed by 31.2 per cent to £6.7m.