TVS Motor Company has announced that they have sold 58,906 units of its models in May 2020. In total, the company has delivered 56,218 units and 41,067 units in the domestic market, last month. The automotive sector is highly affected by the current lockdown. The shocking decrease in sales figures is proof. In the three-wheeler production, the company recorded sales of 2,688 units in the month.
As the Government announced new guidelines for COVID-19 lockdown, the firm has started its operations with minimum workers. TVS also commenced its workings in India in all its Hosur, Mysuru and Nalagarh facilities on 6 May 2020. They are following the new guidelines strictly to prevent the coronavirus. The employees are maintaining social distancing inside the office as well as with customers along with usage of essential equipment like a mask to prevent the coronavirus.
The dealerships across India have started operations after Government announcement. The condition isn’t stable, but to keep up the sales, the company are taking measures and commenced working. Not only India, but the showrooms in abroad are also started in mid of May 2020. According to TVS Motor Company, they have noticed a uniform work in buyer purchasing despite the lockdown.
Last month the company has revealed a new CSR action scheme centred on E3 directives to fight COVID-19. They have donated Rs 1000 crore for COVID-19. The company supported Self-Help Groups to make home-made certified masks and sanitizers and distributed to hospitals, vendors, health-workers, police stations, army, in societies encompassing the company’s facilities.
The market shares of TVS Motor Company are at a profit of 1.52 per cent at Rs 357.40 on the BSE. The scrip continued earnings for the sixth time. The stock has totalled 14% in the preceding six assemblies from its current closing low of Rs 313.90 as on 22 May 2020.
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