As a part of this collaboration, Motomundo SA will facilitate the sales and service of TVS products across all Motomundo stores in the country in a phase-wise manner. Motomundo SA stores will start with an exclusive outlet for TVS Motor Company and within a year, it will expand it to 3 stores in Honduras. TVS Motor Company will be present in 40 Motomundo outlets with over 25 dealers across the country. It will also operate 25 service outlets to ensure complete service and spare support. The range of two-wheeler offerings will be supplemented with attractive retail finance schemes.
Speaking on the deal, R Dilip, the Executive Vice President – International Business of TVS Motor Company, has said that, We are delighted to partner with Motomundo SA, to expand our presence in Honduras. Motomundo SA shares our values of maintaining high quality of service and transparency across operations. At TVS Motor Company, we place supreme importance on making products which boast of superior quality and cutting-edge technology. The unique network of distribution that Motomundo SA has developed makes them the best strategic ally for TVS Motor Company. With this partnership, we will be able to offer customised products with complete service and spare parts for our customers and consolidate our presence in the region.
TVS Motors on 24 February 2020 disclosed that its direct dependency on China for the import of automobile components has been limited. China is a key part of the global automobile supply chain. Some Tier II suppliers have been impacted adversely which would lead to an estimated 10% drop in the planned production for the month of February 2020. The company is trying to normalise the issue as soon as possible, it said.
TVS Motor Company’s consolidated net profit rose 0.6% to Rs 205.13 crore on a 7% decline in net sales to Rs 4,765.99 crore in Q3 December 2019 over Q3 December 2018.
Shares of two-wheeler maker were down 1.78% to Rs 428.40. The stock hit a high of Rs 434 and a low of Rs 423.20 so far.
TVS Motor Company is engaged in the manufacturing of motorcycles, scooters, mopeds, three wheelers, parts and accessories. The firm’s motorcycles include Apache Series RTR, Phoenix 125, Victor, StaR City+, Sport and Max4R. Its scooters include Jupiter, Wego, Scooty Zest 110, Scooty Streak and Scooty Pep +. Its mopeds include XL 100, XL Super and XL Super Heavy Duty.