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Mahindra Two Wheelers, a part of the Mumbai-based Mahindra Group, has witnessed a 58% drop in sales in March failing to ride the demand tide for scooters despite launching upgraded products.
The company sold 5,398 units of scooters during March, as against 12,750 units of scooters sold in the same month last year. Last year Mahindra Two Wheelers launched the Duro DZ and Rodeo RZ scooters, with the Z-Series engine.
Market leader Honda Motorcycle and Scooter India (HMSI) saw a 4% fall in the same month in scooters selling 132,035 units as against 138,134 units.
Annual sales of Mahindra Two Wheelers were also down by 25% to 101,551 units sold in April-March, 2012-13 as against 134,570 units sold in 2011-12.
The company was supposed reenter the motorcycle segment with the launch of the Pantero and Centuro. Both the bikes were to be launched before February end but the company has delayed the introduction to this financial year.
The company presently sells five products in the Indian market including a variant, all of which are scooters.
