Magnet availability in electric vehicle-related supply chain continued to pose threat in short-to-medium term, TVS Motor Co. said in its monthly sales statement.
TVS Motor reported a 9.2% year-on-year decline in electric vehicle sales to 14,400 in June 2025. This compares to 15,859 in the corresponding period of previous year, according to an exchange filing. Nevertheless, its TVSiQube retail sales remained robust.
TVS Motor's statement comes in the backdrop of China imposing restriction on rare-earth material exports, following US' protectionist trade policies. China's curb has caused anxiety in industries which relied on rare-earth material supply.
Costs of China-origin rare-earth materials have increased, according to experts. They also expect that prices will likely remain high despite import continuation.
TVS Motor's total sales advanced 20% on the year to 4.02 lakh unit in June. Its total exports grew 54% on the year to 1.17 lakh unit, it reported Tuesday.
TVS Motor share price declined 1.13% to Rs 2,884.9 apiece. The share price was trading 0.84% down at Rs 2,893.1 apiece as of 2:17 p.m., as compared to a 0.11% advance in the NSE Nifty 50.
The stock advanced 23.14% in 12 months, and 22.18% on year-to-date basis. The relative strength index was at 61.07.
Out of 41 analysts tracking the company, 22 maintain a 'buy' rating, 11 recommend a 'hold' and eight suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 2.6%.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
