According to a recent report by the credit rating agency ICRA, the two-wheeler market has grown at a robust double-digit trajectory in the last fiscal with scooter being the show stopper. “The two-wheeler volumes in domestic market grew at a healthy rate of 14.8% Y-o-Y during FY2018 – the highest growth since FY2011, with multiple factors influencing the growth trends as the year progressed. The highlight of the growth during the current year was a robust demand in the scooters segment that outpaced the industry growth and also a strong recovery in rural demand, which reflected in a pick-up in motorcycle volumes, especially at the entry level,” the report said.
The report underlines scooter segment growing by a hefty 19.9% in volumes during FY2018 with growing demand from the urban pockets and its acceptability also improving in semi-urban locations with improvement in road quality. Motorcycle segment too displayed coming out of static demand pattern witnessed between 2013 to 2017 and has reported a growth of 13.7% Y-o-Y during FY2018. The growth has been driven notably by the 75-110cc sub-segment supported by general improvement in rural demand sentiment on the back of near normal monsoon.
Pix credit: http://www.thedelhiwalla.com/2009/06/25/travel-notepad-%E2%80%93-the-scooter-women-of-udaipur/