TVS Motor Sales: TVS Motor Company expects to maintain its growth momentum in the current fiscal due to the strength of the economy and continued improvement in road infrastructure. According to the company, the premium bike and scooter segment will have good demand in 2023-24 due to increased exports. Also, support will come from electric two-wheelers.
TVS Motors in its annual report for 2022-23 said it has an optimistic outlook for the current financial year. The agency said there is a general consensus that India will continue to lead the growth rate among major economies. Apart from this, the demand for two-wheelers will remain strong due to improvement in road infrastructure.
TVS has registered an annualized growth of 22.8 percent in 2022-23, compared to the industry average of 15.5 percent during the period. According to the annual report, sales in rural areas could suffer if the monsoon is disrupted due to El Nino.
