TVS Motor Nov sales fall 12.73 pct

Reuters
Posted: 2008-12-01 13:27:22+05:30 IST
Updated: Dec 01, 2008 at 1327 hrs IST

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Mumbai : TVS Motor Co said on Monday its two-wheeler sales for November fell 12.73 per cent to 98,402 units from 112,766 units a year ago as domestic sales were hurt by an ongoing liquidity crunch.

Motorcycle sales dropped 20.7 per cent to 45,276 units in November, India's third largest two-wheeler maker said in a statement.

General inflationary trends, liquidity crunch and the continuing adverse impact of rising interest rates with restricted availability of retail finance hurt sales, it said.

"In addition, November 2007 had the extra benefit of festival sales," TVS added.

However, its exports doubled to 20,911 units in November 2008 as against 10,408 units in the corresponding period of the previous year.

Shares of TVS were up 1.52 per cent at 23.40 rupees in the Mumbai market.

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TVS Motor Nov sales fall 12.73 pct

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