The company, which caters to both domestic and export markets, has informed its shareholders that it is well positioned to grow, with consumers preferring personal mobility options amid the coronavirus pandemic. “Despite the growing second wave of active cases, the company remains confident that the negative impact would be smaller and rebound faster,” TVS Motor Company said in its annual report for 2020-2021.
This prospect of cautious optimism is based, on the one hand, on the preparation of the company’s supply chain and, on the other hand, on the conviction that administrative responses would be much more measured and targeted, while a widespread vaccination campaign should break the chain, he added.
Long-term new practices of social distancing could see consumer preferences shift towards personal mobility, leading to new demand in the two-wheeler industry, the company has informed its shareholders.
“The company recognizes this opportunity and is well positioned to take advantage of this opportunity with its premium product offerings for the widest range of personal mobility needs,” he noted. The company sold 21.6 lakh units of two-wheelers in the domestic market in FY21, compared to 24.1 lakh units in 2019-2020. Two-wheeler exports are expected to grow in the year driven by consumption.