TVS two-wheeler sales declined

Chennai, Aug 1 (UNI) TVS Motor Company reported two wheeler sales of 1,05,366 units in July 2007 compared to 1,21,462 units in July 2006.

During the month, motorcycle sales recorded 44,392 units compared to 68,335 units recorded in July 2006, a Company release here today said.

The decline in motorcycle sales was mainly due to the industry slowdown witnessed by the motorcycle segment due to reduced availability of finance, increased cost and stringent norms being followed by retail financiers.

Currently, more than 60 per cent of the purchases of the two wheelers were dependent on retail finance.

Consequently, the Company was consciously trying to reduce the stock of motorcycles, the release said.

UNI