Speaking at the company's 16th annual general meeting (AGM) on Thursday, CMD Venu Srinivasan said that the company had sold over 3.44 lakh vehicles in the first five months as against 2.73 lakh units in the same period last year thereby registering a higher growth rate of 27 per cent eventhough the industry grew by only 7 per cent.

Senior company officials said that despite higher depreciation on account of the Mysore production facility, which went on stream in September last year, the company is expected to post a better performance for the second quarter of the current fiscal.

Srinivasan also said that TVS Suzuki's monthly sales had crossed the milestone of 75,000 units and as of August over 30,000 mobikes are on road since the company began production of motorcycles. New models such as upgraded version of Scooty,variant of Max 100, XL Super Heavyduty and Spectra AC have been introduced during the year, he added.

In order to meet the peak demand for Scooty, its production has been shifted from Hosur to Mysore plant which will also release the much-needed capacity at Hosur to produce mobikes.

The company, he added, would introduce four-stroke mobikes in November this year and a 70 cc moped in the last quarter targeted at urban customers. The electric version of Spectra would also be introduced in September, Srinivasan said.