TVS Motor shares surge after November auto sales increase 30%, above estimates

Shares of TVS Motor Company Ltd. surged nearly 3% on Monday, December 1, after the company's monthly auto sales topped Street predictions. Its total sales for November were 5.19 lakh cars, more than the 4.9 lakh vehicles predicted by the CNBC-TV18 survey. Additionally, this was 30% more than the 4.01 lakh cars the corporation sold in November of the previous year. TVS Motor sold a total of 4.98 lakh units of two-wheelers, up 27% over the previous year's 3.92 lakh units. This included 2.42 lakh units of motorcycles and 2.10 lakh units of scooters. The sale of electric vehicles jumped 46% to 38,307 units from last year's 26,292 units.