TVS plans Iran assembly unit
Eyes exports of 1 lakh vehicles
| The company, for the current fiscal, is expecting exports to cross 50,000 vehicles. |
| The topline from exports is expected to contribute little over 12 per cent when the one lakh mark is breached. |
| TVS Motor, for the first quarter of 2004-05, has reported a fall in sales by 7.76 per cent. Net sales for the first quarter of 2004-05 was Rs 611.06 crore against Rs 662.50 crore for the corresponding period last year. |
| Profit after tax for the first quarter of 2004-05 was Rs 27.18 crore against Rs 32.08 crore for the same period last year, recording a decline of 18.02 per cent. |
| Venu Srinivasan, managing director, TVS Motors, said, the decline is sales in the first quarter was due to the shift in the market demand for four stroke bikes in the entry level segment. The company is planning to launch the four stroke Max by October this year. |
| Srinivasan said the company is confident of closing the full year 2004-05 with a topline growth of 12-13 per cent despite the inadequate monsoon in the North West market. |
| For the full year 2004-05 the company hopes to sell 800,000 motorcycles against 706,000 motor cycles sold in 2003-04. Srinivasan said, "We expect the sale of Max to pick up to 20,000 units a month in the last quarter of 2004-05." |