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CHENNAI/NEW DELHI: When Tata Nano was launched in March 2009, a section of the trade wrote the obit of the Indian motorcycle industry. Now over one-and-half years later, the industry quietly rode past the milestone of one million motorcycles in a month.
According to CMIE data, the industry sold 10,09,554 bikes (domestic and international) in October. "When the Tata Nano was launched, there was a talk that it would be the end of the road for motorcycles. I had a different view even then that the Nano will create a new market for four-wheelers and not eat into bikes. It was a correct assumption," Venu Srinivasan, chairman and managing director of TVS Motor , told TOI. Of the 1.26 million two-wheelers sold in October, one million were motorcycles, while the rest were scooters and mopeds. In the motorcycle segment, sales of bigger bikes (150cc and above)-priced at a striking distance to Nano-is witnessing a growth rate of over 50%, said H S Goindi, head of marketing, TVS.
Milind Bade, head of marketing at Bajaj Auto , said bike sales would continue to remain strong in the coming years. "There are various positives that go in for bike sales-a major one is the low penetration of two-wheelers in India. The rural region, where 75% of our population lives, has a sub-10% penetration, while overall penetration is below 20%." Bade also said that rising disposable incomes and inadequate infrastructure will also keep the demand high for personal mobility vehicles like bikes. "Two-wheeler sales have grown at a CAGR of 12% over the last 10 years and there is no reason why it should not grow at similar pace in the coming years," he said.
NK Rattan, operating head (sales & marketing) at Honda Motorcycle and Scooter India, said that bike sales would continue to remain strong. "The pace at which we are growing is sustainable and I see no reason why the industry should not grow by at least two-digits over the coming years."
"A two-wheeler is a very efficient individual transportation mode and will continue to remain important. It has a low acquisition cost, highly-efficient running cost and is easy in terms of things like parking and manoeuvrability," said Honda's Rattan.
"The two-wheeler industry will continue to grow in India. With the entry age coming down, preference for two-wheelers will only increase," said K Kumar, senior director (consulting) and manufacturing industry head at Deloitte India. "As the industry keeps evolving, we will get to see newer segments and sub-segments emerge. In the next year, we will see at least 6 or 7 bike launches which are priced in the Rs 5 lakh category."
Source:Sales of bikes priced at a striking distance to Nano grow over 50% - The Economic Times
According to CMIE data, the industry sold 10,09,554 bikes (domestic and international) in October. "When the Tata Nano was launched, there was a talk that it would be the end of the road for motorcycles. I had a different view even then that the Nano will create a new market for four-wheelers and not eat into bikes. It was a correct assumption," Venu Srinivasan, chairman and managing director of TVS Motor , told TOI. Of the 1.26 million two-wheelers sold in October, one million were motorcycles, while the rest were scooters and mopeds. In the motorcycle segment, sales of bigger bikes (150cc and above)-priced at a striking distance to Nano-is witnessing a growth rate of over 50%, said H S Goindi, head of marketing, TVS.
Milind Bade, head of marketing at Bajaj Auto , said bike sales would continue to remain strong in the coming years. "There are various positives that go in for bike sales-a major one is the low penetration of two-wheelers in India. The rural region, where 75% of our population lives, has a sub-10% penetration, while overall penetration is below 20%." Bade also said that rising disposable incomes and inadequate infrastructure will also keep the demand high for personal mobility vehicles like bikes. "Two-wheeler sales have grown at a CAGR of 12% over the last 10 years and there is no reason why it should not grow at similar pace in the coming years," he said.
NK Rattan, operating head (sales & marketing) at Honda Motorcycle and Scooter India, said that bike sales would continue to remain strong. "The pace at which we are growing is sustainable and I see no reason why the industry should not grow by at least two-digits over the coming years."
"A two-wheeler is a very efficient individual transportation mode and will continue to remain important. It has a low acquisition cost, highly-efficient running cost and is easy in terms of things like parking and manoeuvrability," said Honda's Rattan.
"The two-wheeler industry will continue to grow in India. With the entry age coming down, preference for two-wheelers will only increase," said K Kumar, senior director (consulting) and manufacturing industry head at Deloitte India. "As the industry keeps evolving, we will get to see newer segments and sub-segments emerge. In the next year, we will see at least 6 or 7 bike launches which are priced in the Rs 5 lakh category."
Source:Sales of bikes priced at a striking distance to Nano grow over 50% - The Economic Times
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