India 2021. Two & Three Wheeler Industry Sales At 15 Million (+3.4%)

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Indian Motorcycles Market in 2021 hit by covid19 effects on economy and on distribution and production ending the year with a really low increase over the 2020 with total sales (including 2/3 wheelers, but ICE and EVs) just over the 15 million, up a mere 3.4%.

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

Sharing with Clients the forecast for the Indian 2 and 3 Wheeler industry in 2021, we were less optimistic than all of them and anyhow we exceeded the real market volume. Indeed, following the huge lost reported in the 2020, last year the Indian market was below any expectations with a very shy recovery.

The main agent against the market recovery was again the pandemic effects in the country, with a vaccination process started very slow and both production and distribution penalized by local shutdowns.

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.

However the period below expectations was the second half, when resurging Covid19 pushed down the economy and the consumers demand, with sales below the correspondent month in the previous year in all months.

At the end, the industry closed with a really low increase over the 2020 with total sales (including 2/3 wheelers, but ICE and EVs) just over the 15 million, up a mere 3.4%.

Looking at the brands performance  the market leader, Hero sold in India 4.85 million (-9.3%) reporting a lost of 3 million units since the all-time record established in the 2018.

In second place Honda with 3.7 million (+10.4%) down 2 million from the 2018 record.

Third was TVS Motor with 2.15 million sales (+8.0%) ahead of Bajaj Auto with 1.86 million (+4.2%), Suzuki with 629.000 (+25%), Royal Enfield with 542.000 (+11.3%) and Yamaha with 511.000 (+0.9%).