After 2 good years, three-wheeler volumes expected to see negative growth

Volumes have also come under pressure in the current financial year because of adverse legislative developments in Egypt

After witnessing two years of positive growth, three-wheeler volumes are expected to report negative growth this year. The reasons being liquidity issue, emission norms and electrification of vehicles, among other things. Even exports are likely to be under pressure due to developments in Egypt, which is the second largest market for India.    

India is one of the largest markets for three-wheelers globally with annual volumes of more than 600,000 units. The industry is fairly consolidated, with the top three players accounting for more than 90 per cent of sales.

The growth in the domestic three-wheeler industry has hit a