Two-wheeler Deals to Touch 20 Million Mark in FY2018

Two-wheeler deals are to achieve 20 million units in 2017-18, as indicated by industry body SIAM. The market for the two-wheelers in the country has already touched 18,451,023 units amid the April-February time. Industry has witnessed growth of 14.47% against 16,118,102 units sold in the local market amid a similar 11 month period in FY17.

After enforcement of GST, overall consumer sentiments had uplifted the growth of the sector, and in addition development in the assembling of two-wheelers are driving deals in the domestic market.

Good monsoon for two sequential years has further changed the face of rural markets. That has set more discretionary cash flow in the hands of the rural population, and in addition expanding scooterisation even in the provincial and semi-urban markets are likewise adding to the deals.

Because of the rural sales, motorcycles are starting to demonstrate a robust development with February 2018 deals up 26.48% developing to 1,053,230 units (832,695 units).

Scooters likewise encountered a solid uptick at 560,653 units amid the month against 452,295 units revealed in February 2017 an ascent of 23.96%.

The two-wheeler segment is accepting interest development from both the rural and urban markets. The moderately stifled volumes revealed in the last budgetary year amongst December and March is likewise supporting the volume development. The development uptick from the country is found in the starting level motorcycle sales – which backs up the fundamental transportation needs in less connected in rural and semi-urban markets.

The growth in investment by ladies uplifting the scooty sales is also a reason for speedier development.

Notwithstanding the development in domestic demand for two-wheelers, the recovery in oil costs has brought about enhanced request prospects from selective universal markets, combined with new markets explored by OEMs, is expected to drive export in the current financial.

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