The recent trend in two-wheeler sales in the domestic market suggests that the economic slowdown and Covid-19 have taken a bigger economic toll on those at the lower-income ladder. Two-wheeler makers have reported a much sharper decline in their sales volume in the domestic market than car and sports utility vehicle (SUV) manufacturers and the corresponding ratio is now at an all-time low.
Domestic sales of two-wheelers when annualised -- based on the figures for the first five months of FY22 as provided by Society of Indian Automobile Manufacturers (SIAM) -- would be down 21 per cent YoY, the lowest since FY11.
“The Covid-19 lockdown hit the poor and those at the lower-income ladder in the services industry much harder than high-income earners in white-collar jobs. This has badly hit the demand for motorcycles and scooters -- the prime mode of transport for the majority of working people in the country," says Madan Sabnavis, chief e
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