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LML sales decline 14% in 1HFY2000 - Views on News from Equitymaster
 
 
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  • Oct 19, 1999

    LML sales decline 14% in 1HFY2000

    As reported by a leading business daily, LML has witnessed slowdown in !HFY2000 two-wheeler sales (down 14.3%).

    LML is India's second largest scooter manufacturer with 27% market share (in August). Its brands are recognised for styling and aesthetics. The Vespa, its flagship brand, is targeted at the premium end of the scooter segment. LML had earlier entered into a technical tie-up with Piaggio, but the relationship between the two partners soured over allegations of breach of agreement.

    LML's disappointing scooter saga seems to continue from where it left off. September 1999 sales have declined by 17.9% to 22,630 units (27,552 units in September 1998). Even August 1999 sales at 24,011 units were higher by 5.8% units. Cumulative 1HFY2000 sales have dipped by 14.3%.

    Like other scooter manufacturers in the country, LML seems to have become a victim of the demand shift from scooters to motorcycles. But unlike Bajaj Auto, which also has motorcycles and scooterettes in its kitty, LML only manufactures scooters. But the company is now seeking to correct that with its foray in motorcycles and stepthroughs (hybrid between motorcycles and scooters). Market view:

    In view of lower sales in the scooter segment, and added burden on margins with forays in motorcycles and scooterettes, analysts have flagged LML as a 'SELL'.

     

     

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