TVS Motor gains 5% on strong auto exports sales in August

Moneycontrol Bureau

TVS Motor Company shares gained nearly 5 percent in early trade Monday on strong exports sales data in August. It is the only auto company reporting higher sales data in the month gone by on year-on-year basis while Tata Motors and M&M reported lower growth in sales.

Chennai-based auto company reported 0.57 percent increase in total sales in August at 1,55,532 units as against 1,54,647 units in the same month last year.

Domestic two-wheeler sales were down 6.21 percent at 1,27,095 units in the month under review against 1,35,513 units in August 2012, TVS Motor Co said in a statement.

Motorcycles sales, however, grew by 14.23 percent to 61,313 units in August from 53,673 units in the same month last year, while scooters sales declined by 4.49 percent to 36,478 units as against 38,193 units in the same month last year, it added.

Exports during the month grew by around 53 percent at 27,425 units in August 2013 as compared to 17,934 units in the corresponding period last year.

Two-wheeler exports increased 40 percent to 21,374 units in August this year as against 15,227 units in the same month last year.

In the three-wheeler segment, the company said total sales increased by around 81 to 7,063 units in August 2013 from 3,907 units in the corresponding month last year.

At 10:22 hours IST, the stock was up 2.3 percent at Rs 31.20 on the Bombay Stock Exchange.

(With inputs from PTI)