In a market like India, where two-wheelers enjoy a major share, shrunken sales figures of motorcycles in this year comes as a surprise to many.
The data furnished by SIAM shows that such a dip has been recorded for the first time since 2009. Sales fall of 8.5 percent has been recorded, at 7,66,123 units for the month under review. The reason for this dip in sales, SIAM states, is due to high inflationary rate in the economy, especially fuel price hike, and bad spell of monsoon, which has affected the buyer sentiments in both urban and rural areas. All major two-wheeler manufacturers have suffered this fall in sales. The percentage dip in the sales of some manufacturers is- TVS Motors (the highest, 21% dip) BajajAuto (with a dip of 10% in sales). Hero Motocorp weren’t left unaffected either and their sales fell for the first time in many years, as the demand for their entry-level commuters went down. However, the company expects their sales to grow again as the festive season approaches.
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