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Two-wheelers prove to be better bet for auto makers amid economic slowdown

Analysts attribute this to the slowdown in the job market, which has a bigger economic impact on urban India

Topics
two wheelers | Passenger Vehicles | SUVs

Krishna Kant  |  Mumbai 

Two-wheelers have turned out to be a better bet for auto makers, compared to passenger cars and sports utility vehicles (SUVs). Sales of passenger vehicles (PVs), including SUVs, had declined to a four-year low of 2.65 million in FY20, even as the two-wheeler market grew 9 per cent between FY16 and FY20.

In FY20, domestic PV sales slid 22 per cent year-on-year (YoY) to 2.65 million units, while two-wheeler sales declined 18 per cent YoY to 17.4 million. Two-wheeler sales have consistently outpaced PVs over the past decade. PV sales have grown at a compound annual growth rate (CAGR) ...

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First Published: Mon, October 12 2020. 23:06 IST
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