The company is seeing impressive growth amid the current situation.
It goes without saying that 2020 will likely go down as one of the worst years in recent memory. With the global coronavirus pandemic reaching a fever pitch, nearly everyone’s lives as well as the world economy as whole was turned on its head, vigorously shaken, with seemingly no end in sight. Fast forward over a year hence, and several countries all over the world continue to struggle to manage the effects of the pandemic.
India, in particular, has seen a resurgence in cases. In fact, most major motorcycle manufacturers have temporarily halted production in order to allocate efforts towards alleviating the shortages in oxygen, energy, as well as the overall spread of the virus. Now while all this is grim, and rather depressing, it’s interesting to note that the pandemic has resulted in a drastic increase in demand for personal mobility, especially given the high rate of virus transmission in public transport. As a result, many motorcycle manufacturers are enjoying massive sales growth, with TVS Motor Company in particular, seeing a massive 114.82-percent sales growth for March 2021.
The Indian motorcycle giant sold a whopping 200,000 motorcycles in March 2021, versus last year’s 94,103 unit figure for the same period. As mentioned earlier, the sudden increase in demand this year, as well as the major economic decline during the onset of lockdown is largely responsible for the massive sales growth. As expected, the TVS Jupiter was the best performing unit, with over 57,000 of these practical little scooters rolling off showroom floors in March alone.
Other models in TVS Motor Company’s arsenal have performed extremely well, too, with the likes of the XL seeing continued popularity as a utilitarian option for folks running delivery businesses and the like. On the electric side, the iQube posted the highest growth rate, with an impressive 1,844-percent growth. For reference, the iQube electric scooter sold a total of 350 units in March of this year, as opposed to the meager 18 scooters sold in the same period last year.
While there is certainly lots of room for potential growth, the alarmingly high number of new COVID-19 cases is forcing the economy to remain restricted, with one form of lockdown or another still implemented across the country. With vaccination ongoing, as well as several private companies investing heavily in inoculating their workforce, we certainly hope that India, as well as the rest of the world, will be able to make it through this second wave.