TVS Motor bets on personal mobility business opportunities

NEW DELHI: TVS Motor Company expects a swift recovery in the market ravaged by the second wave of COVID-19, as it believes it is now better prepared to tackle supply-chain issues along with the authorities chipping in with appropriate response to deal with the pandemic.

The company, which caters to both domestic and export markets, informed its shareholders that it is well poised for growth with consumers preferring personal mobility options amid the coronavirus pandemic. “Despite the rising second wave of active cases, the company remains confident that adverse impact would be lower and bounce back swifter,” TVS Motor Company said in its Annual Report for 2020-21.

This outlook of cautious optimism is built upon, on one hand, the company’s own supply-chain preparedness and on the other, a belief that the administrative responses would be far more measured and targeted, while widespread vaccination drive is expected to break the chain, it added.

The new long-term practices of social distancing could see consumer preferences change towards personal mobility leading to new demand in the two-wheeler industry, the company informed its shareholders.

“The company is cognisant of this opportunity, and well poised to leverage this opportunity with its superior product offerings across the widest range of personal mobility needs,” it noted. The company sold 21.6 lakh units of two-wheelers in the domestic market in FY21, as compared to 24.1 lakh units in 2019-20. Export of two-wheelers were likely to see a growth in the year fuelled by consumption.