Synopsis
In the new management structure, Robert Hentschel takes over as the new CEO, Vittorio Urciuoli as the CTO as John Russell steps down from his role as interim CEO.
Agencies
TVS Motor intends to retain Norton s distinctive identity , and feels this acquisition can help.
TVS Motor Co, owner of the UK based Norton Motorcycle today announced key leadership changes in the Solihull- based motorcycle brand as it prepares for the transformation of one of the world s most storied brands.
In the new management structure, Robert Hentschel takes over as the new CEO, Vittorio Urciuoli as the CTO as John Russell steps down from his role as interim CEO.
TVS Motor Q3 net jumps to ₹266 crore
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TVS Motor Co. Ltd.’s standalone net profit for the third quarter ended December 2020 more than doubled to ₹266 crore driven by strong growth in two-wheeler sales in the domestic and international markets.
Two-wheeler sales in the domestic market rose by 21% and international market by 31% ahead of the industry growth of 13% and 20% respectively.
The third quarter of FY20 had a one-time reversal of exceptional item of ₹76 crore.
The board on Thursday declared an interim dividend of ₹2.10 per share.
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The Indian electric scooter and motorcycle market would reach a sales volume of 1,080.5 thousand by the end of 2025, exhibiting a CAGR of 57.9% between 2020 and 2025.
Due to the rising pollution and the increasing provision of financial incentives by the government, the sales of electric scooters and motorcycles are booming in India. In 2019, nearly 152.0 thousand units of electric motorcycles and scooters were sold in the country, registering a 20.6% growth annually from 2014.
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