Indian is the nation where the holy occasions and festive seasons decide what numbers will be put on the boards of the market players. The market is majorly driven and dependent on the festive seasons for each and every product and service as well.
There are dozens of market players in Indian automobile sector and are accountable to the 10.41% of year-on-year growth, between April–August. Out of the whole squad of automakers, there are four such leading players including Piaggio Vehicles, Honda Motorcycle & Scooter India, Suzuki Motorcycle India, and Royal Enfield that have witnessed the uplift in the market share. While the other eight have witnessed a drastic drop at various level in last five months.
For all the four two-wheeler makers, the lift in the sales has come at the right occasion of the festive season. The Royal Enfield is emphasized only on motorcycle segment, while other three have their products in both scooter and motorcycle segment. Piaggio, particularly, produces and sell only scooters through its premium brands such as Aprilia and Vespa.
Moving ahead, it is projected that the motorcycle segment will bring the demand back on track, while in the case of scooter, the demand is similar to that of SUV in PV segment, which is expected to flourish on monthly basis. The scooter segment is witnessing a great uplift on its growth charts owing to the rising demand from rural areas of the country, a large number of women opting non-gear scooters for daily routine and as a comfortable-to-ride solution.
In August, the total sale of scooter segment went up to 673,444 units, whereas in the period of April–August a total of 2,890,943 units were sold by segment in the country. The motorcycle segment sold a much larger part compared to scooters, managed to sell 1,135,699 units in August and 5,239,340 units in the period of April–August.
The factor responsible for growth is the drop in prices of the vehicles and dealers offering hefty discounts. Availability of hassle-free finance for purchasing a vehicle is also driving the growth of the two-wheeler market.