Hero Honda, Bajaj Auto and TVS who had so far shown tremendous resilience to the vagaries of the global and domestic economy have finally succumbed to the pressures of the credit crisis. Each company posted a minimum 25 per cent drop in sales in from September to October, and for most TVS’s sales declined from 9.65 per cent to 12.70 per cent selling only 98402 units this November.

Even the infallibly reliable Hero Honda has been brought to it’s knees. After sales dropped from a positive growth of 22.50 per cent in September 2008 to a negative growth of 3.4 per cent in October 2008, this month the market leader is the only company of it’s nearest competitors to post an almost flat but still positive growth in sales of 2.8 per cent. Bajaj Auto continues to be unable to control the free fall it’s sales have gone into. After posting a 34 per cent decline in sales in October 2008 over sales in October 2007, in November 2008 they sold on 1,32,421 units over 2,11,600 units in the same month of the previous financial year.