New Delhi, July 20: Two-wheelers rode into the slow lane in the first quarter of this fiscal by posting a modest 3.06 per cent growth in sales. A total of 12.39 lakh units were sold in the country during April-June 2003 against 12.02 lakh units sold a year ago, data compiled by the Society of Indian Automobile Manufacturers (SIAM) showed.
The moderate growth could be attributed to the motorcycle and step-thru segment which lost steam and recorded a 7.39 per cent rise to 9.74 lakh units even as scooters and mopeds suffered negative growth.
Sales of market leader Hero Honda Motors grew by 8.29 per cent to 4.53 lakh units while that of the second-biggest Bajaj Auto increased by 5.76 per cent to 2.32 lakh units.

Chennai-based TVS Motor Company posted a 7.8 per cent growth at 1.74 lakh units on the back of growing sales of the indigenously-produced 110cc motorcycle 'Victor'.
However, the wholly-owned subsidiary of Japan's Yamaha Motor suffered a 50.2 per cent drop to 41,834 units. Bureau Report