Two-wheeler sales are the lowest in the last seven years

MUMBAI: The two-vehicle industry in India has been lagging behind for nearly a decade due to slow sales growth following the Corona epidemic. Rating agency Crisil Research estimates that sales of two-wheelers will be 5 to 6 per cent lower this year than last.

In the seven months to October of the current financial year, sales of two-wheelers grew marginally to 30,8,8 units as against 20,8,8 units in the same period last year. Sales of two-wheelers are the lowest in seven years, according to the auto industry body SIAM.

Sales of two-wheelers, the benchmark of the Indian economy, have been declining for three consecutive years. According to Crisil Research, low-income earners have been hit hard. This has led to a decline in sales of entry level motorcycles. Sales of other consumer products such as building, consumer durables and four-vehicle have also been affected. On the other hand, the income of rich people has increased in the meantime, which has led to an increase in sales of expensive cars, motorcycles and valuables.