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Below is quote on TVS Motor Company has reported a strong rebound in auto numbers for Sep’21 with a 6% YoY/19% MoM by Mr. Milan Desai, Lead Equity Analyst, Angel One Ltd

TVS Motor Company has reported a strong rebound in auto numbers for Sep’21 with a 6% YoY/19% MoM jump in volumes to 3,47,156 units. Domestic 2Ws came in at 2,44,084 units, up 36% MoM as against 2,41,762 units in Sep’20 with all segments posting sequential growth of 17-24%. Total Exports were down 7% MoM to 1,02,259 units with 2W exports declining 6% MoM to 88,427 units. Total Scooters grew by 20% MoM to 1,04,091 units and Motorcycles were up 24% MoM to 1,66,046 units. The company has been experiencing strong demand from the export markets and as per the commentary, the retails are expected to improve with the festive season approaching. We believe that TVS Motor’s strength in key end markets is expected to keep exports momentum buoyant and expect the company to witness margin improvement in the upcoming quarters led by a rebound in volumes.

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