Two-wheeler retail gross sales are expected to enhance by simply 4-7% in quantity phrases within the home market this fiscal yr regardless of logging sturdy progress within the festive interval, in accordance to a report.
The festive season this yr noticed strong progress in two-wheeler retails aided by the upcoming marriage ceremony season and a few restoration in rural demand, which supported gross sales progress within the entry-level (110 cc) section, the report by score agency ICRA acknowledged.
The seller stock remained at close to regular ranges, with the OEMs (authentic tools producers) cautious of a build-up in stock on the dealerships, it added.
“The industry is expected to record a moderate growth in volumes in FY 2024 (4-7%) even as export volumes remain impacted by weak demand,” ICRA stated.
Elaborating on the passenger autos, ICRA acknowledged that the section is expected to report a reasonable progress in volumes in FY2024 (6-9%) and attain an all-time excessive throughout the interval.
Commercial car quantity progress is expected to be within the vary of 2-4% this fiscal as in contrast with the final monetary yr, it acknowledged.
“Aided by favourable demand drivers, the industry volumes are expected to reach near the pre-pandemic peak,” ICRA stated.
