Indian two-wheeler companies lose sales momentum in November after festive October

Source: Xinhua| 2019-12-02 22:40:50|Editor: yan
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MUMBAI, Dec. 2 (Xinhua) -- After reporting outstanding sales in October riding on the festive fervor, Indian two-wheeler companies reported a subdued month of sales volume in November.

Hero MotoCorp, world's largest two-wheeler manufacturer, sold 516,775 units of motor-cycles and scooters in November compared to 610,252 units in the same month a year ago and 599,248 units in preceding month of October 2019, the company said in a statement on Monday.

In November, Hero MotoCorp commenced retail sales and scaled up production of the country's first BS-VI compliant motorcycle while discontinuing the production of several BS-IV models in an effort to migrate completely to the new emission era, the statement said.

Hero MotoCorp has stopped production of more than 50 variants of its BS-IV range of products while rapidly increasing the production of BS-VI vehicles.

BS-VI is an Indian emission standard equivalent to Euro 6 for vehicle that will be applicable across the country from the year 2020.

TVS Motors, part of the TVS group, reported sales of 249,350 units in November as against sales of 307,142 units in the same month a year ago, while Bajaj Auto sold 343,446 units during the month compared to 346,544 units in the same month a year ago, down 1 percent. Both companies released the monthly sales data for November on Monday.

"Festive sales in October led to inventory dropping to less than 30 days, and the majority of demand, post-festive sales of October, is being driven by the ongoing marriage season," said an auto analyst with a domestic brokerage.