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 exp...