Icra expects two-wheeler industry to grow by 9% in 2014-15
13/10/2014 10:39
Credit rating agency Icra sees India’s two-wheeler industry to grow about 9 per cent in 2014-15 as volumes in the short term are expected to draw support from the replacement demand, said the media report. Over the medium term, the industry is expected to report a compounded aggregate growth rate (CAGR) volume of about 9 per cent to reach 23 million units (domestic + exports) by 2016-17, the Icra report said. According to the report, in the first five months of current fiscal, the two wheeler industry grew at the fastest pace since 2010-11, posting a strong growth with sales volumes expanding by a healthy 14.8 per cent year-on-year. The overall growth in the two-wheeler industry in the last three years has been primarily attributed to the strong demand for scooters. However the motorcycle segment's contribution too has gained force in 2014-15 by virtue of greater replacement demand and new model launches by various original equipment manufacturers (OEMs), the Icra report said. Scooters contributed 27 per cent to domestic two-wheeler industry during the five months in 2014-15. "The fast expansion of the scooter segment's pie has encouraged most OEMs to launch new models to capitalise on growing opportunity offered by this segment," Icra Senior Group Vice President Subrata Ray said in a statement.
13/10/2014 10:39
Credit rating agency Icra sees India’s two-wheeler industry to grow about 9 per cent in 2014-15 as volumes in the short term are expected to draw support from the replacement demand, said the media report. Over the medium term, the industry is expected to report a compounded aggregate growth rate (CAGR) volume of about 9 per cent to reach 23 million units (domestic + exports) by 2016-17, the Icra report said. According to the report, in the first five months of current fiscal, the two wheeler industry grew at the fastest pace since 2010-11, posting a strong growth with sales volumes expanding by a healthy 14.8 per cent year-on-year. The overall growth in the two-wheeler industry in the last three years has been primarily attributed to the strong demand for scooters. However the motorcycle segment's contribution too has gained force in 2014-15 by virtue of greater replacement demand and new model launches by various original equipment manufacturers (OEMs), the Icra report said. Scooters contributed 27 per cent to domestic two-wheeler industry during the five months in 2014-15. "The fast expansion of the scooter segment's pie has encouraged most OEMs to launch new models to capitalise on growing opportunity offered by this segment," Icra Senior Group Vice President Subrata Ray said in a statement.
