India 2021. In 9 Months, The Two & Three Wheeler Industry Lost 27.6% Vs 2019 Figures

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Indian Motorcycles Market struggles hit by covid19 effects on economy and on distribution and production. In the Q3 sales have been below the previous year both in August (-12.4%) and September (-18.4%) with Year to Date September figures at 10.9 million, up a mere 12.6% vs the 2020 and down a still huge 27.6% vs the 2019.

Data reported for India regards wholesales and not – as for all the other countries – registrations. The perimeter of data covered includes motorcycles, moped, scooter, and ATV, both on ICE and electric engines. In addition, data includes the commercial three wheeler, very popular in the country.

Motorcycles Market Trend in the 2021

Following the huge sales drop reported in the 2020 ( in volumes the highest ever lost for this market), the Indian motorcycles market is slowly recovering this year, still struggling to manage the covid19 effects on people health and economy and the full year data will stay far from the pre-covid level.

According to a recent IMF report, India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022. Figures are lower than sixth months ago.

The surging Covid-19 infections and inadequate vaccination progress in many states threaten a broad-based recovery of the World economy, said the World Economic Situation and Prospects report.

The two and three wheeler industry is totally mirroring the economic environment. Sales started to recover during the Q1 (calendar year) before to sharply decline in the Q2 at a monthly rate around 1 million units, with the first half sales (Jan-Jun 2021) at 6.7 million, up 32.6% vs the 2020, while down a deep 37.4% vs the pre-covid figures in the 2019.

In the Q3 sales have been below the previous year both in August (-12.4%) and September (-18.4%) with Year to Date September figures at 10.9 million, up a mere 12.6% vs the 2020 and down a still huge 27.6% vs the 2019.

Looking at the brands performance, in the first nine months of the year, the market leader, Hero sold in India 3.6 million (+0.8%) and is followed by Honda with 2.8 million (+23.3%) and TVS Motor with 1.48 million (+11.4%).