Two-wheeler sales hit speed bump in Jan

The note ban impact was seen more on companies that have major exposure to motorcycle sales

While sales of commercial and passenger vehicles seem to have recovered from the impact of demonetisation, the two-wheeler industry continues to be under pressure.
 
This is due to a drop in motorcycle sales, driven by the rural economy. According to industry sources, sales of heavy and medium commercial vehicles (CVs) grew around one per cent in January, while passenger car sales grew in double-digits. However, domestic two-wheeler sales dropped by around seven per cent to 1.26 mn units. This was despite two-wheeler makers having reduced the down-payment. Some dealers also waived it.
 
Bajaj Auto’s domestic motorcycle sales were