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2W Sales Analysis FY23: Despite 17% growth, two wheelers still at 9-year low

2 years ago Auto economictimes
The domestic two wheeler industry posted a year-on-year double-digit growth in 2022-23 after three consecutive years of decline. However, it is still below the 2014-15 levels of 16 million units. With a negative CAGR of 6.97%, it is also lower than the pre-Covid levels of 21.18 million units in 2018-19. Retails continue to remain weak as the demand for lower CC models has not yet picked up. The 50% price hike for the entry-level segments over the past three years has also adversely impacted the industry sentiments. Going forward, the domestic market is expected to drive the recovery in FY24 with the export outlook comparatively being weak. Read more at: economictimes

Tags : two wheeler sales Electric two-wheelers scooter sales in india motorcycle sales in india two wheeler export hero motocorp market share honda market share bajaj market share in fy23 tvs market share in fy23

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