TVS Motor Company reports 56,218 two-wheeler units sold in May 2020. Same month last year saw the company sell 2.36 lakh two wheelers – thereby registering a 76% decline in May 2020. Last month, auto manufacturers were permitted to begin operations in the middle of an ongoing lockdown. Of this domestic sales stood at 41,067 units. The manufacturer sold 2,688 three-wheeler units.
Factory operations got underway on May 6, 2020 in accordance to strict safety guidelines for employees. Dealerships are being opened as per government and local authority directives, and this will be continued through June. Recent business activity comes after a sudden closure on all activity towards the end of May, and all through April 2020.
TVS Motor Company Ltd has opened out its manufacturing plant and dealerships in select areas, following nearly 2 months of closure. This was in adherence to Government of India orders in a bid to restrict the spread of the coronavirus pandemic. The plants were opened in Hosur, Mysuru and Nalagarh and there will be strict safety and hygiene guidelines being followed at each of the plants and at dealerships. Exhaustive measures are in place to ensure a safe working environment for employees with appropriate steps for social distancing and hygiene.
Dealerships are following social distancing with a limited number of employees for the time being which will be increased in the days ahead. All exteriors and interiors, lounge areas and display vehicles are sanitized at regular intervals while all employees wear masks and gloves and temperatures are checked on a daily basis while entering and exiting the premises.
Customers are requested to phone in and make appointments prior to visiting the showrooms. There is also the option to buy/test ride bookings online so as to allow a limited number of visitors coming into the dealerships. Entire range of TVS, from the moped XL Super to their Apache 310 and Jupiter scooter is available online.
In view of the months of closure and lower sales over the past few months, TVS Motors has announced temporary salary cuts for employees for 6 months from May 2020. Though there will be no salary reduction at worker levels, salaries of junior executives will see a 5 percent reduction while for senior management levels, the salary cut will extend to 15-20 percent. Employees at TVS Motor Company were paid their full salaries in April.
The nationwide lockdown since March 2020 has affected the entire auto industry. Sales of passenger cars dipped as much as 51 percent while sale of commercial vehicles fell 88 percent. There was also a 58 percent dip in sales of three wheelers and 40 percent in two wheeler segments. Data received from Society of Indian Automobile Manufacturers (SIAM) revealed that TVS Motor domestic sales in the in the 2 and 3 wheeler categories crashed more than 60% in March.
Many sectors have implemented tax cuts, job reduction and other cost cutting factors and in some cases the employees themselves came forward and proposed a salary cut for a few months. The other two wheeler major, Bajaj Auto, had also proposed a salary cut across levels but the company later deferred this decision and stated that there were no plans to reduce salaries at this stage.
Source: Bike - rushlane.com
