2-wheeler sale volume grows 8% in Feb on rural demand
Four of India’s top five two-wheeler makers, who make up more than 75% of the sales volume, recorded double-digit growth in February, as per data shared by them.
Honda Motorcycle & Scooter India, the country’s second-largest two-wheeler maker, however, bucked the trend to report a 21% y-o-y decline in volumes in February at 227,064 units. The company did not specify the reason for the fall.
Two-wheeler volumes grew 8% y-o-y in February, the most in three months, at over 1.01 million units following a demand pull from rural pockets and general improvement in consumer sentiment despite continued hikes in auto loan rates and product prices.
Four of India’s top five two-wheeler makers, who make up more than 75% of the sales volume, recorded double-digit growth in February, as per data shared by them.
Hero MotoCorp, India’s largest two-wheeler maker, recorded domestic sales of 382,317 units, a growth of 15% y-o-y. “The volumes in February indicate the continuously improving consumer sentiment and the company expects the positive trend to continue in the coming months, on the back of favourable economic indicators,” Hero MotoCorp said in a statement.
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