The woes for Indian two wheeler industry continued as two leading manufacturer, Bajaj Auto (BAL) and TVS Motor Co posted big double-digit dip in September sales.
NEW DELHI: The woes for Indian two wheeler industry continued as two leading manufacturer, Bajaj Auto (BAL) and TVS Motor Co posted big double-digit dip in September sales, while the market leader managed just 4.3 per cent increase.
Pune-based BAL reported a decline of 24 per cent its total two-wheeler sales at 2,06,208 units against 2,72,271 units in September last year. The company's bike sales also got hammered with a 25 per cent decline in sales at 204,152 units against 2,71,377 units in the same month last year.
Treading a similar path, TVS reported a 29.04 per cent dip in total two-Wheeler sales at 1,15,091 units compared to 1,62,200 units in the corresponding month a year ago.
The company's bike sales crashed by 49.53 per cent 53,991 units against 1,06,972 units in the same month a year ago.
Reduced sales in September is mainly due to prevailing high interest rates and restricted availability of retail finance, TVS Motor said.
"Currently the company's motorcycle portfolio is skewed towards the retail finance dependant entry level and is practically absent from the executive segment, which accounts for over 40 per cent of the motorcycle sale," TVS said, adding for October it has projected an increase in sales by 20 per cent over September.
Market leader Hero Honda, on the other hand managed to keep itself abreast with a 4.31 per cent increase in September sales.
The company said its total two-wheeler sales in September stood at 3,14,567 units against 3,01,577 units in the same month previous year, however, without disclosing the break up of its motorcycles and scooter sales.
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