TVS Motor records 2% fall in November sales

TVS Motor records 2% fall in November salesIndian two-wheeler giant, TVS Motor has recorded a fall of 2 percent in sales during the month of November this year due to a fall in the sales of scooters and low demand in international markets.

TVS Motor said that is sales has fallen 2 per cent to 171,837 units during the month compared to 175,535 units sold in the same month of the previous year. The sales of two-wheeler vehicles fell 3.5 percent to 166,783 units while that of three-wheeler commercial vehicle increased 87 percent 5,054 units during the month.

TVS was able to sell a total of 65,494 motorcycles during November, which is 5 per cent higher than same period in the previous year. However, sales of scooters fell 15 percent to 37,470 units. The company's exports fell 17 percent to 20,080 units in November.

TVS Motor has been the second largest scooter maker in India, behind Honda Motorcycle and Scooter India. The company is now facing increasing competition from Hero MotoCorp, which is now selling the Maestro scooter, apart from its existing Pleasure model in the Indian market.

TVS Motor shares closed at Rs 39, up 1.3 percent on NSE on Friday.