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TVS Motor sales fall 8.5% in Dec 08

TVS Motor sales fall 8.5% in Dec 08
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First Published: Fri, Jan 02 2009. 01 05 PM IST
Updated: Fri, Jan 02 2009. 01 05 PM IST
New Delhi: Chennai-based TVS Motor Company on Friday reported that its two-wheeler sales for December fell 8.5% to 89,285 units from 97,576 units year ago, as customers continued to defer purchases.
Motorcycle sales dropped by 21.91% year-on-year to 40,057 units in December, India’s third largest two-wheeler maker said in a statement.
General inflationary trends, inadequate availability of retail finance and high interest rates affected sales, it said.
However, the cumulative sales for the April to December period registered a 2% growth compared to year ago period, the statement added.
Other two wheeler makers have also reported a fall in December sales.
India’s top motorbike maker Hero Honda Motors Ltd, on Thursday said, its December two-wheeler sales declined 10.2% to 215,931 units.
Bajaj Auto Ltd, India’s No. 2 motorcycle maker, on Thursday reported that its total two-wheeler sales for December were down 33% to 119,215 units from a year earlier.
At 12.09 pm, TVS Motor shares gained 0.1% to Rs23.80 in a flat Mumbai market.
In the month under review, the company added an upgrade of the Apache RTR 160 equipped with rear disc brakes to its premium segment. It also reduced prices between Rs700 and Rs2,000 across its two-wheeler models, thereby passing on the benefits of the four percentage point duty cut. (With PTI, Reuters adds)
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First Published: Fri, Jan 02 2009. 01 05 PM IST