Covid-19 impact: TVS Motor domestic two-wheeler sales down 62% in March

TVS Motor reported a 62 per cent drop in domestic two-wheelers to 94,103 units this March, from 247,694 units a year ago. Total two-wheeler sales, including exports, declined 56.9 per cent to 133,988 units in March 2020 from 310,885 units last year.

Motorcycles sales at 66,673 units this year were less than half those, at 141,086 units, a year. Scooter sales were down 65.3 per cent to 34,191 units from 98,477 units a year ago.

Sales across categories were down 55.5 per cent to 144,739 units in March 2020, from 325,323 units in March 2019.

"There has been a huge impact on the company’s production and sales this month because of the Covid-19 lockdown across the country. TVS Motor Company launched attractive and feature rich BS VI versions of its entire portfolio. These have been well received and there are adequate stocks already in the market when it reopens. International demand for both two-wheelers and three-wheelers was good. However, due to the lockdown, there was a significant loss in production, and also vehicle stock in the factory for both domestic and international markets, which could not be dispatched," said the company.

The company began the transition to BS VI in Q3 of FY20 in a move that has helped it become completely ready to supply these vehicles in Q4. The firm and its dealers have retailed almosy all BS IV vehicles and the company is now getting set to fully focus on its BS VI range once the market opens.

Exports stood at 50,197 units in March 2020 as against 76,405 units in March 2019. Two-wheeler shipments stood at 39,885 units this year as against 63,191 units in March 2019.

During the fourth quarter of the current financial year, two-wheeler sales dropped to 590,000 units from 866,000 units in the same quarter a year ago. Three-wheeler sales rose 3 per cent from 41,000 units in Q4 last year to 43,000 units in the fourth quarter of the current year.

During 2019-20, the company's two-wheeler sales dropped 3.09 million units from 3.76 million units in 2018-19. Three-wheeler sales were up 11 per cent from 156,000 units in FY19 to 174,000 lakh units in FY20.

TVS Motor to make ventilators or related parts for Covid-19 patients

Automobile major TVS Motor plans to start making ventilators or key parts of the medical apparatus for Covid-19 patients who are not in the highly critical stage. The two-wheeler maker has tied up with Sastra University for this initiative, and joins the list of groups such as Mahindra and Tata that have announced plans to make such equipment.

The company, along with die-caster Sundaram-Clayton Ltd, has said it plans to spend Rs 30 crore to support the nationwide efforts to combat Covid-19. The funding will come from Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Ltd. The two TVS Group firms will manufacture and supply supportive equipment such as masks, apart from providing cooked meals to those in the frontline - from healthcare workers to police officers, the company said.

Venu Srinivasan, chairman, TVS Motor, told Business Standard that his company has initiated works with Sastra University to use its rapid prototyping equipment to make ventilator and related parts.

"We just started two days ago. If you start designing today, it will be too late. Sastra University has a design, and we are working with them," he said. These are simple ventilators, not the complex ICU kind, which are very difficult to make. They can be used for patients who are not critical. The company said it is evaluating collaborations with 3D printing firms to make devices for hospitals that lack necessary life support systems to take care of Covid-19 victims.

The company is also making masks through its seat supplier. These masks can be used by all those not directly dealing with Covid patients. The automaker plans to make a million masks and is also providing tractors mounted with tankers and sprayers for disinfecting towns like Mysuru, Krishnagiri, Hosur, Chennai, Bengaluru.

The first phase of the programme is underway and SST has already supplied 10 tractors fitted with disinfectant spray along with about 30 personnel to the Hosur Municipal Corporation in Tamil Nadu, and municipalities in Krishnagiri and Mysuru. The streets and villages in and around these towns are being sprayed with disinfectant as an ongoing process. SST will also manufacture and distribute 1 million face masks to those delivering essential services from healthcare to food supplies.

Company's canteens are working to provide food packets for police and sanitation workers, because hotels and restaurants are closed, he said. TVS Motor Company and SCL are using canteen kitchens in Hosur, Padi (Chennai) and Mysuru to make cooked food which is being distributed to police, healthcare workers and essential services workers in and around Hosur, Chennai and Mysuru. In Baddi, Himachal Pradesh, the company is distributing daily, dry ration kits to daily wage workers who have been displaced, and also to villagers who need food supplies.

According to reports India has lifted controls on producing medical ventilators, as it seeks to plug the growing shortage of this critical equipment in the battle against Covid-19.

Already five automakers including Tata Motors Ltd, Mahindra and Mahindra Ltd (M&M), Hyundai Motor India Ltd, Honda Cars India Ltd and Maruti Suzuki India Ltd have said they will explore the possibility of making ventilators at their plants.

Companies generally need a license to make items listed as essential medical equipment under the Drugs and Cosmetics Act and Medical Device Rules. This rule has been waived off considering the medical urgency, provided that the manufacturer has partnered with a licensed firm.

TVS Motor domestic two-wheeler sales drops 27%, total exports rise 25%

TVS Motor domestic two-wheeler sales declined 27 per cent at 169,684 units in February 2020 as against the sale of 231,582 units in February 2019.

Total two-wheelers, including exports, registered sales of 235,891 units in February 2020 as against sales of 285,611 units in February 2019, a decline of 17.4 per cent.

The company registered sales of 118,514 units of motorcycles in February 2020 as against sales of 122,551 units in February 2019 — a decline of 3.3 per cent. Scooters registered a decline of 30 per cent, with the sale of 60,633 units in February 2020 as against sales of 86,935 units in February 2019.

Company's total exports grew 25 per cent from 66,570 units in the month of February 2019 to 82,877 units in February 2020. Two-wheeler exports grew by 23 per cent, increasing from 54,029 units in February 2019 to 66,207 units in February 2020.

Three-wheeler sales grew 26.4 per cent to 17,370 units during the month compared with 13,742 units during the same month last year.

Overall sales of TVS Motor saw a decline of 15.4 per cent to 253,261 units during the month of February, 2020, as against sale of 299,353 units during the same month of last year.

TVS said that as planned, the company is on track to reducing dealer level BS-IV stock in the domestic market and is confident of retailing it this month. In addition, the outbreak of coronavirus (COVID-19) has led to an impact on the supply of certain components for the production of BS-VI vehicles. All efforts are on to normalise this at the earliest.

TVS Motor partners with Motomundo SA for expansion in Honduras

TVS Motor Company has strengthened its operations in Central America by forming a partnership with Motomundo SA, one of the largest business groups in Honduras.

As a part of this association, Motomundo SA will facilitate the sales and service of TVS products across all Motomundo stores in the country in a phased manner. Motomundo stores will start with an exclusive outlet for TVS Motor Company and will expand it to three stores in the country within a year.

TVS Motor Company will be present in 40 Motomundo outlets and over 25 dealers across Honduras. The company will also operate 25 service outlets to ensure complete service and spare support. The range of two-wheeler offerings will be supplemented with attractive retail finance schemes, according to the company release.

R Dilip, Executive Vice President — International Business, TVS Motor Company said that partnership with Motomundo SA will expand the company's presence in Honduras. The unique network of distribution that Motomundo SA has developed makes them the best strategic ally for TVS Motor Company. With this partnership, TVS will be able to offer customised products with complete service and spare parts for our customers and consolidate our presence in the region.

TVS Motor Company is the flagship company of the $8.5 billion TVS Group with exports to over 60 countries.

TVS Motor slides 6% as coronavirus outbreak set to impact February output

Shares of TVS Motor Company slipped 6 per cent to Rs 410 on the BSE on Tuesday after the two and three-wheelers manufacturer said the outbreak of pandemic Coronavirus (COVID-19) in China will lead to 10 per cent drop in its planned production in February. The stock was trading at its lowest level since October 17, 2019.

In the past one month, TVS Motor has underperformed the market by falling 12 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.

"Coronavirus has led to impact on supply of certain components for production of BS-VI vehicles. China is a key part of the global automobile supply chain," TVS Motor said in an exchange filing post market hours yesterday. READ THE COMPANY'S STATEMENT HERE

While the company’s direct dependency on China is limited for components, some Tier II suppliers have been impacted adversely which will lead to 10 per cent drop in the planned production in February 2020. All efforts are on to normalise this at the earliest, the company said.

Commenting on the development, the company's Director & CEO KN Radhakrishnan said, "To minimise the impact on production of BS-VI vehicles, we are consistently monitoring developments with those of our suppliers who are sourcing certain components from China. Parallelly, we are also exploring suppliers in other regions and are looking to localise within India.”

According to a Crisil estimate, around 18 per cent of automobile component imports and nearly 30 per cent of tyre imports come from China. Automotive Component Manufacturers Association of India (ACMA) says India imported around $ 4.2 billion of auto components in 2019 from China.

"Companies have stocked up inventories in anticipation of the Chinese New Year. Hence, the virus outbreak is expected to cause limited disruption in the fourth quarter of fiscal 2020, as Indian auto original equipment manufacturers (OEMs) tend to have import inventories for 30-60 days. But lack of even a single critical component such as printed circuit boards can hurt an OEM’s ability to manufacture vehicles," the rating agency said.

At 9:40 am, the stock was trading 5.6 per cent lower at Rs 413. In comparison, the benchmark S&P BSE Sensex was flat. Almost 19 lakh shares so far have changed hands on the BSE and NSE combined.

TVS Motor's gross margins hit 13-quarter high, grow by 360 basis points

Despite a fall in volumes, TVS Motor's gross margins hit a 13-quarter high growing by 360 basis points to 27.8 per cent in Q3 of 2019-20. Gross margins have grown gradually from 24.1 per cent, during the first quarter of fiscal year 2019 to 24.9 per cent by the end of the fiscal.

Margins were driven by cost initiatives, lower commodity cost and a better product mix among others.

The company’s overall two-wheeler sales, including exports, stood at 773,000 units during quarter ended December, 2019, as against 950,000 units in the quarter ended December, 2018. Three-wheeler sales grew by 22.1% to 48,391 units in the quarter from 39,629 units in the quarter ended December 2018.

EBITDA margins grew 70 basis points YoY to 8.8 per cent as the gross margin growth was offset by higher other expenses at 13.3 per cent, say analysts.

TVS rivals Bajaj and Hero have also seen margin expansion and sustained a double digit EBITDA. Bajaj reported a 290 basis point growth in gross margins, at 30 per cent while its EBITDA margins were at 17.9 per cent on lower other expenses, according to Prabhudas Lilladher report. Hero's gross margin expansion was due to raw material cost softening and cost control making EBITDA margin to grow at over 80 basis point to 14.8 per cent.

TVS is targeting double digit margins against the backdrop of its cost reduction efforts, import reduction, export growth and better product mix including mopeds.

Motilal Oswal Securities says improving market position and scale are expected to drive a 110 bp margin expansion over 2019-21 and there are several levers to improve margins, including improving competitive positioning, better mix, cost-cutting initiatives and operating leverage (particularly on marketing and employee cost).

"Hence, we estimate EBITDA margin expansion of 170bp margin expansion (FY20-22) to 10.1 per cent. This would result in standalone EPS CAGR of around 30 per cent over FY20-22," it said.

"I think with our material cost reduction strategy plus ability to price better, we have a very good opportunity to, on one side, manage our demand ahead of the industry. On the other side, there is material cost reduction initiative, we can also a little bit of pricing. Overall, we will be able to do much better than what we are doing today. Almost 30 per cent of our business comes from international and it is also growing much faster," said K N Radhakrishnan, president and CEO of TVS Motor Company.

TVS Motor Q3 consolidated net profit declines 21% to Rs 156.84 crore

TVS Motor Company on Tuesday reported a 20.7 per cent decline in consolidated net profit at Rs 156.84 crore for the third quarter ended on December 31, 2019, hit by lower sales during the period.

The company had posted a net profit of Rs 197.79 crore in the December quarter of 2018-19.

Total income of the company declined to Rs 4,779.32 crore for the third quarter as compared with Rs 5,123.50 crore in the year-ago period, TVS Motor Company said in a regulatory filing.

The company said its overall two-wheeler sales during the third quarter ended December 2019 stood at 7.73 lakh units as compared with 9.5 lakh units in the quarter ended December 2018.

Motorcycle sales for the quarter under review stood at 3.25 lakh units as compared with 3.78 lakh units in the year-ago quarter.

Similarly, scooter sales stood 2.8 lakh units for the third quarter as compared with 3.54 lakh units in the year-ago period.

On the other hand, total three-wheelers sales grew 22.1 per cent to 48,391 units in the said quarter as against 39,629 units in October-December period of 2018-19.

Similarly, total exports of the company grew 22.6 per cent to 2.17 lakh units during the third quarter as against 1.77 lakh units in the year-ago period.

The company's board has re-appointed Venu Srinivasan as the chairman and managing director for a further period of five years, effective April 24, 2020, TVS Motor Company said.

TVS Motor Q3 preview: Volume decline to dent earnings, margins may improve

TVS Motor Company is scheduled to announce its December 2019 quarter results later in the day. Analysts expect the automaker to post a double-digit decline in revenues as well as profits, largely due to fall in volumes while realization improvement will cushion the blow.

During the quarter under review, TVS Motor Company's volumes declined 17 per cent YoY and 7.3 per cent sequentially. Kotak Securities pegs 26 per cent decline in domestic markets and 23 per cent YoY growth in export markets in volumes. The company's average sell price (ASP) is likely to grow around 5 per cent YoY due to better product-mix with higher sales of premium bikes and exports.

Further, it expects revenues to slip 13 per cent YoY to Rs 4,044.6 crore while net profit is seen dipping 22.2 per cent YoY to Rs 138.7 crore.

Analysts at Prabhudas Lilladher expect TVS Motor to post 11.8 per cent YoY decline in revenue at Rs 4,112.8 crore as compared to Rs 4,664 crore in the year-ago quarter, Profit may slip 6.4 per cent YoY to Rs 1,669 crore from Rs 1,784 crore in Q3FY19.

According to the brokerage, the decline in volumes will partially be offset by realisation improvement of 6.2 per cent YoY, courtsey price hike for two-wheeler (2W), higher share of three-wheeler (3W) and exports in the product mix.

Reliance Securities pegs TVS Motor's Q3FY20 revenue at Rs 4,064.6 crore, down 12.9 per cent YoY, and profit at Rs 131.2 crore, down 26.5 per cent from the year-ago quarter.

OPERATING PERFORMANCE

Prabhudas Lilladher sees TVS Motor's earnings before interest, tax, depreciation, and ammortisation (Ebitda) at Rs 361.4 crore, down 3.8 per cent YoY. However, margins are likely to tick up as a result of product mix and low raw material cost while negative operating leverage will cap the gains. As such, the brokerage sees Ebitda margin at 8.8 per cent, up from 8.1 per cent YoY but flat sequentially.

Kotak Securities expects the firm to report a higher 11 per cent YoY decline in Ebitda to Rs 335.6 crore, mainly led by negative operating leverage although Ebitda margin may grow by 24 bps YoY to 8.3 per cent.

At the bourses, TVS Motor outperformed the benchmarks by surging 11.52 per cent during the quarter as compared to Sensex's 7.69 per cent gain in the same period.

TVS Motor reports 25% drop in domestic two-wheeler sales in December

TVS Motor Company reported a 25 per cent drop in domestic two-wheeler sales during the month of December, 2019, to 1,57,244 units from 2,09,906 units in December 2018.

Total two-wheeler sales were down by 16.66 per cent to 215,619 units in December 2019 as against sales of 258,709 units in December 2018.

Motorcycles registered sales of 93,697 units in December 2019 as against sales of 107,189 units in December 2018, a drop of 12.59 per cent.

Scooter sales were down by 18.32 per cent to 74,716 units in December 2019 as against sales of 91,480 units in December 2018.

Exports

The company's total exports grew by 22% from 60,262 units registered in the month of December 2018 to 73,512 units in December 2019. Two-wheeler exports grew by 20%, increasing from 48,803 units in December 2018 to 58,375 units in December last year.

Three-Wheelers

Three-wheeler sales of the company grew 26%, increasing from 12,686 units in December 2018 to 15,952 units registered in December last year.

Sluggish scooter biz drags TVS Motor's domestic two-wheeler sales down 27%

TVS Motor has reported a 26.52 per cent drop in domestic two-wheeler sales during November, to 191,222 units from 260,253 units the same month a year ago, owing to huge pressure is its scooter segment.

The company has attributed the decline to the advancing of the Diwali season by a month and the planned adjustment of BS IV stocks.

The firm's motorcycle sales dropped by 11.61 per cent to 105,963 units from 119,883 units a year ago, while scooter sales were down 24.69 per cent to 84,169 units from 111,763 units.

TV Motor's total sales declined 16.7 per cent to 266,582 units during the month, from 319,965 units in November 2018. Overall two-wheeler sales were down 18.8 per cent, at 249,350 units in November 2019, from 307,142 units in November 2018.

The company's overall exports were up 26.65 per cent to 74,060 units in November 2019, from 58,476 units in the same month a year ago. Two-wheeler shipments grew by 24 per cent to 58,128 units in November 2019, from 46,889 units a year ago.

Three-wheeler sales were up 34.4 per cent, from 12,823 vehicles in November 2018 to 17,232 vehicles in November 2019.

TVS Motor domestic sales down by 25% YoY in October, exports rise 20%

TVS Motor has reported a 25 per cent drop in domestic two-wheeler sales during the month of October 2019, at 252,684 units as compared to 338,988 units a year ago. However, the company said October sales were two per cent higher than in September, which effectively reduces stock-in-trade for BS VI transition.

Total two-wheeler sales, including exports, were down by 20 per cent to 308,161 units in October 2019 from 384,307 units a year ago.

While motorcycle sales were down by 16 per cent to 125,660 units this October from 150,429 units last year, scooter sales were lower by 20 per cent at 121,437 units, from 151,040 units last October.

The company's exports grew by 20 per cent from 57,926 units last October to 69,339 units in the same month this year. Two-wheeler exports were up 22 per cent, from 45,319 units in October 2018 to 55,477 units in October 2019.

Q2 moped sales slip 30%, TVS confident of better show post rural recovery

The sale of mopeds fell 30 per cent in the quarter ended September, but the sole manufacturer of the light-powered two-wheeler used in small-town India is confident business will bounce back

TVS Motor Company, India's third largest two-wheeler maker, sold 1,68,000 mopeds in the quarter ended September 2019, compared to 2,41,000 units during same period last year. The company's overall scooter sales declined by 14.17 per cent and motorcycle sales by 18.37 per cent in the same period.

K N Radhakrishnan, director and chief executive officer at TVS Motor, said demand in rural markets was weak after patchy monsoons in parts of the country. Besides, various factors like insurance premium, have increased on road prices by 12%.

“....there is a huge discounting from many of our players in the economy motorcycles (segment), so these are the two important factors which started affecting moped market,” he said.

TVS decided not to give discounts for mopeds, and instead introduced electric-start mopeds to boost sales. “I am pretty confident when the rural market starts coming back, (the) moped will come back in a big way,” said Radhakrishnan.

TVS is confident that the Bharat Stage VI emission norms will not shoot up moped prices.

“As the rural market starts coming back, we are pretty confident that the customers definitely will come forward to moped because it has got certain unique advantages vis-à-vis other products and that will continue to remain. And I am pretty confident that moped will come back even in a BS VI scenario,” said Radhakrishnan.

Sundaram-Clayton declares October 1 as non-working day for major plants

Sundaram-Clayton Limited (SCL), the holding company of two-wheeler and three-wheeler maker TVS Motor, has declared non-working day in its major plants on October 1, 2019, due to business slowdown across sectors.

The company has manufacturing plants in Padi and Mahindra World City in Chennai, Oragadam near Chennai and the industrial hub of Hosur, apart from a facility in Ridgeville, South Carolina (United States).

The announcement comes in the backdrop of the slowdown affecting production at the factories of various Original Equipment Manufacturers (OEMs) and auto component makers. Several firms have declared no-production day in their plants the past few months in order to align their operations with slow market demand.

In August, the company announced that its major plants will work only five days in certain weeks of the month.

Part of the $8.5 billion TVS Group Company, SCL is a leading manufacturer and supplier of aluminium die-cast products to domestic and global automotive OEMs.

TVS Motor domestic two-wheeler sales fall 20%; three-wheeler sales up 11%

TVS Motor on Tuesday reported a 20 per cent drop in domestic two-wheeler sales during the month of August 2019 at 219,528 units from 275,688 units in August 2018. The total vehicle sales of the company in August 2019 declined by 15.3 per cent to 290,455 units as compared to 343,217 units in the same month last year despite growth in exports.

However, the company said that sales in August, 2019, were 4 per cent higher than the sales in July, 2019, at 279,465 units.

The company sold 109,393 units of motorcycles in August 2019 as against 131,743 units in August last year, a drop of 17 per cent. Total scooter sales of the company registered a decline of 13.7 per cent, to 109,272 units in August, 2019, as against sales of 126,676 units in August last year. The total two-wheeler sales fell 16.4 per cent, at 275,851 units in August 2019, as compared to 330,076 units in August last year.

Two-wheeler exports grew by 3.6 per cent increasing to 56,323 units in August 2019, as compared to 54,388 units exported during the same period last year. The company's total exports grew by 5.6 per cent to 69,702 units compared to 66,028 units in August, 2018.

Three-wheeler sales of the company grew 11.13 per cent to 14,604 units during August this year, compared to 13,141 units in the same month a year ago.

Sundaram-Clayton to work only 5 days a week due to slowdown

Sundaram-Clayton Limited (SCL), the holding company of two-wheeler and three-wheeler maker TVS Motor has said that company's major plants will work only for five days due to slowdown. The company had earlier declared August 16 and 17 as non-working days at its Padi factory near Chennai.

"The Company's major plants will be working for five days in a week due to business slowdown across sectors," said the company.

Part of the $8.5 billion TVS Group Company, SCL is the leading manufacturer and supplier of aluminium die cast products to domestic and global automotive original equipment manufacturers (OEMS).

The company has four plants in and around Chennai and one in US.

TVS Motor's Singapore arm invests $3.2 mn in analytics firm Predictronics

TVS Motor Company on Saturday said its Singapore arm has invested $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.
TVS Motor Company Board Member and CEO of TVS Motor (Singapore) Rajesh Narasimhan said, "We evaluated many companies globally providing Predictive Maintenance solutions and found Predictronics' product offerings and solutions to be a clear differentiator...We are hence happy to invest in and strategically partner with Predictronics as they continue to deliver business improvements for Fortune 500 companies while leveraging them for our businesses."
Predictronics' solutions combine expertise in IIoT (industrial internet of things), industrial AI, big data, machine learning, and predictive analytics to remove uncertainty from industrial operations and improve process uptime, production planning, maintenance, and product quality by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business, the statement said.
Predictronics Co-Founder and CEO Edzel Lapira said, "We believe TVS Motor Company is an ideal strategic investor and partner for Predictronics with the forward-looking vision, dedication, and clear business case for harnessing the power of advanced analytics technologies."
Investment from a company like TVS is also key for a firm like Predictronics to guide, improve, and validate its technology, deployment strategy, business model and go-to market, Lapira added.

TVS Motor sales dip marginally in May, exports put up a good show

TVS Motor has registered a marginal decline in sales for the month of May 2019, with 307,106 units sold compared with 309,865 units in the same month last year.

Total two-wheeler sales were down 1.28 per cent at 294,326 units in May 2019, from 298,135 units in the corresponding monthh last year. Domestic two-wheeler sales declined 3.83 per cent to 236,807 units from 246,231 units same period last year.

Motorcycle sales grew by 12.7 per cent to 142,787 units from 126,711 units in the same month of previous year. Scooter sales also grew by 2 per cent at 98,202 units from 95,879 units in May, 2018. The company did not release aales figures for mopeds.

The company's total exports grew by 11.4 per cent to 69,319 units in May 2019, from 62,218 units during the same month last year. Two-wheeler exports grew by 10.8 per cent to 57,519 units during May, this year, compared to 51,904 units in the same month last year.

Three-wheeler sales grew by 8.95 per cent to 12,780 units as compared to 11,730 units same month last year.

TVS launches 4 new products in Bangladesh

TVS Motor Company has strengthened its position in Bangladesh by launching four new motorcycles there.

The products include premium motorcycle TVS Apache RTR 160 4V single disc, 125cc motorcycle TVS Max 125, 100cc motorcycle TVS Metro special edition and utility vehicle TVS XL100 Heavy Duty ’i—Touch Start”. These products will target the growing customer demand in each of their respective segments.

R. Dilip, Senior Vice President - International Business, TVS Motor Company, said that Bangladesh is one of the key export markets for the company. Each product will cater to the growing mobility needs of the country by addressing performance, durability and comfort.

J. Ekram Hussain, MD - TVS Auto Bangladesh, said the offerings have been designed to suit the requirements of the Bangladesh market with the value proposition of performance, fuel efficiency, durability and convenience which ensures good performance across any type of terrain.