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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26


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GlobalData : Growing need for personal mobility and strong rural demand boosting 2-wheeler sales in India, says GlobalData

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08/05/2020 | 10:02am EDT
05 Aug 2020
Growing need for personal mobility and strong rural demand boosting 2-wheeler sales in India, says GlobalData
Posted in Automotive

Following the news that year-on-year two-wheeler sales decline in India narrowed in July 2020 as compared to previous month;

Animesh Kumar, Director of Automotive Consulting at GlobalData, a leading research and consulting company, offers his view:

'Most of the major two-wheeler manufacturers in India witnessed healthy wholesale volumes in July 2020. The top five OEMs Hero MotoCorp, Honda Two-wheelers, TVS Motors, Bajaj Auto and Royal Enfield cumulatively accounted for a wholesale volume of 1.2 million units in July 2020. However, the sales volume is still 13% lower compared to July 2019.

'There are several drivers for the growth in sales. A positive trend has been noticed towards the preference for personal mobility and it is only going to grow at least in the short-term. COVID-19 is impacting consumer preferences. Concerns regarding the safety and hygiene are driving some customers away from public transportation. As a result, customers are opting for personal mobility and the sales of both new and used two-wheelers are growing. Affordability is a key factor among a large share of users of public transportation and the sales of two-wheelers are expected to witness faster growth in the coming months.

'Another factor that is a major growth driver for two-wheeler sales is the strong demand from the rural and semi-urban areas owing to good monsoons and harvest season. The disposable income has increased in rural areas and the inadequate public transport infrastructure is driving customers towards two-wheelers.

'Unlocking of economic activities, easing of restrictions on movement, uncertainties over availability of public transportation and pent-up demand from May and June also helped in improving sales volumes in July 2020. There have been reports that two-wheeler dealers are receiving high number of bookings, which indicates that the growth is not temporary and is likely to sustain.'


GlobalData plc published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 14:01:10 UTC

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