Automobile Companies Report Massive Losses in Final Quarter of 2019

New Delhi, January 2, 2020:

Two-wheeler automobile major Hero MotoCorp on Thursday reported a 6.41 per cent decline in sales, including exports, for December 2019.

Reportedly, in December, the sale has declined to 424,845 bikes from 453,985 in the year-ago month. "In the first three-quarters of FY20, the company sold 50,75,208 motorcycle and scooters. Hero MotoCorp is rapidly migrating to the BS-VI regime and has launched two exciting motorcycles -- Splendor iSmart BS-VI and HF Deluxe BS-VI -- in quick succession," it said.

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However, the two and three-wheeler manufacturer's exports rose by 26.20 per cent to 12,836 units from 17,394 units shipped during the like month of 2018.

On the other hand, Automobile major TVS Motor Company on Thursday reported a fall in its sales for the quarter ending December at 231,571 units.

In an official statement, TVS said, “It sold a total of 231,571 (two-wheelers 215,619 units, three-wheelers 15,952 units).”

The number of units in December 2019 reportedly down from 271,395 units (two-wheelers 258,709 units, three-wheelers 12,686 units) sold in December 2018. TVS has started rolling out Bharat Stage VI emission norm compliant TVS Apache RTR series, TVS Jupiter Classic and TVS XL models.

Meanwhile, Bajaj Auto also reported a decline of 3 percent in total sales at 3,36,055 units in December 2019. It had sold a total of 3,46,199 units in December 2018.

The company in its official statement stated, “Total domestic sales were down 15 percent at 1,53,163 units as compared to 1,80,351 units in the year-ago month. Motorcycle sales in the domestic market were 1,24,125 units last month as against 1,57,252 units in December 2018, down 21 percent.”

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