INDIA OVERTAKES CHINA TO BECOME THE LARGEST TWO WHEELER MARKET IN THE WORLD

INDIA OVERTAKES CHINA TO BECOME THE LARGEST TWO WHEELER MARKET IN THE WORLD

FollowSameer Malhotra

 

Chief Executive Officer at Shriram Automall India Ltd

Indian Two Wheeler Market has become the world’s biggest market in terms of volume with the sale of 17.7 million units (as per data released by Society of Indian Automobile Manufacturers) in FY 2016-17 overtaking China with 16.8 million units (as per data shared by China Association of Automobile Manufacturers) over the same period. The year despite many ups and down, proved to be a constructive one for the two wheeler market to gain 1st position globally. However, two wheelers maintained persistent market share of 81% in Indian Automobile Industry.

The scooter segment of the two wheeler industry has significantly contributed to make India the world’s biggest two wheeler market. If we look at statistics, one in three two wheelers sold in India now is a scooter, making its share augment to 33% in FY 2016-17 from around 20% in FY 2012-13. The overall scooter market has grown more than twofold from 2.5 million units to 5.6 million units at the end of FY 2016-17, while the motorcycle market has merely increased from 10 million to 11 million units since FY 2011-12. The growing share and demand of scooters are majorly coming from urban and semi-urban areas where women form most of the demand.