TVS Motor expects up to 8% sales growth this fiscal
New Delhi: TVS Motor Company Thursday said it expects sales to grow by up to 8 percent this fiscal and hopes to cash in on the upcoming festive season.
"Our sales will grow almost equal to the industry growth. We expect the sales to grow by 7-8 percent," TVS Motor Company President and CEO K N Radhakrishnan told PTI on the sidelines of the SIAM annual convention here.
The company had sales of 2.1 million units during the last fiscal, he added.
TVS Motor has been registering decline in sales in the past few months. Its total sales in August this year stood 154,647 units against 194,898 units in the same month last year.
The company expressed hope that sales will pick up in the upcoming festive season.
"Sales will definitely increase in the coming festival season," Radhakrishnan said without putting a definite target.
When asked if the company is planning any capacity expansion, he said: "At present, our capacity is about three million units. It is sufficient right now. The investment in the fiscal will be in R&D and brand development."