Mumbai, Dec 3 (IANS) Inventory adjustment along with economic slowdown continued to decelerate two-wheeler segment sales in November on a year-on-year basis.
Accordingly, two-wheeler major Hero MotoCorp sold 516,775 units of scooters and motorcycles in November from 610,252 units sold during the corresponding period of last year.
“Hero MotoCorp has scaled up the production of its BS-VI vehicles, while discontinuing the production of several BS-IV models in an effort to migrate completely to the new emission era,” the company said in a statement.
“The company has stopped production of more than 50 variants of its BS-IV range of products while rapidly increasing the production of BS-VI vehicles.”
Another, two-wheeler major Honda Motorcycle & Scooter India”s total sales in November 2019 stood at 396,366 units, down from 418,367 units sold during the corresponding month of the previous year.
Two-and-three wheeler manufacturer, TVS Motor Company registered sales of 266,582 units in November 2019 as against sales of 319,965 units in the corresponding month of last year.
“Shifting of Diwali season to the earlier month and planned adjustment of BS IV stocks is reflecting in the sales growth difference between November 2018 and November 2019,” TVS Motor said in a statement.
On the other hand, Suzuki Motorcycle India reported a rise in its domestic sale to 60,855 units during the month under review from 53,058 units sold in November 2018.
–IANS
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Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS
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