Two-wheeler maker TVS Motor Company on Friday reported a 36.56 per cent decline in its domestic motorcycle sales during May at 49,651 units compared to 78,271 units in the corresponding month previous year.
The company attributed the decline in motorcycle sales to the slowdown experienced by the industry in the last few months, TVS said in a statement.
The Chennai-based firm said the decrease in two-wheeler sales was mainly due to reduced availability, increased cost and stringent norms being followed by retail financiers, which account for more than 60 per cent of sales.
The total two-wheeler sales declined 13.2 per cent during May at 1,08,151 units compared to 1,24,678 units in the same month last year.
Exports in May were up 15 per cent at 9,849 units, while sales of TVS Scooty during the month grew 24 per cent at 25,280 units as against 20,396 units sold during May 2006, the statement said.
The company said it anticipated significant sales during marriage season had supplied adequate two wheelers in the market.
"Consequent to the lower than anticipated sales during marriage season, the company is reducing the stock of motorcycles held in the market to keep the stocks under control," the statement said.
The company is planning to introduce an upgraded version of TVS Apache with several new features of a high-end motorcycle.
It is also developing a motorcycle to increase its presence in the executive segment, which would be launched in the second half of this year.