TVS Motors recorded flat November sales; three-wheeler segment down 24%

TVS Motors - manufacturer of two-wheeler and three-wheeler posted sales of 2,24,971 units in the month of November 2016, a sequential decline of 0.19% compared to 2,25,401 units in same month of the previous year. 

The company said, "Due to the demonetization exercise, the Company witnessed a short-term impact on November sales."

Two-wheeler saw sales of 2,19,088 units this month versus 2,17,706 units in November 2015. From which - domestic  two-wheeler sales stood at 1,91,499 units and that of exports were at 27,589 units. 

However, in November 2016, sales from scooters saw 4% yoy decline to 73,135 units and that of motorcycles saw sales of 67,896  units down by 17.36% yoy. 

Similarly, three-wheeler segment declined 23.54% on yoy basis by selling 5883 units. 

Total  exports sales were at  32,829 units, down by 2.35%  as against 33,621 units recorded in the month of November 2015. 

Lastly TVS Motors said, "We are seeing a sales pickup already happening and we believe, it is a very good move for the country in the long term."