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HomeBusinessDomestic two-wheeler sales hit a decade low, know what it means

Domestic two-wheeler sales hit a decade low, know what it means

There has been a sharp decline in the sales of two wheelers. Sales of two wheelers declined by 11 per cent in December, while sales declined by 25 per cent in the December quarter.

Sales down 25 per cent in December quarter.

According to SIAM data, there is a steady decline in the sales of motorcycles, scooters and mopeds. According to this data, more than one million two wheelers were sold in the month of December. A total of 10.12 million units of two wheelers were sold between April and December in the current financial year. According to a Mint report, between April and December, two-wheeler sales have reached the lowest level in the last decade. Fewer vehicles were sold in 2021 between April-December than in 2020. In 2020, 10.77 million units of two wheelers were sold in the same period.

10.12 million units in 2021 (between April-December), 10.77 million units in 2020, 13.91 million units in 2019, 16.53 million units in 2018, 15.09 million units in 2017, 13.49 million units in 2016, 12.26 million units in 2015, 2014 12.12 million units were sold in 2013, 10.94 million units in 2013, 10.38 million units in 2012 and 9.97 million units in 2011. The lowest sales since 2011 have taken place in 2021.

What are the implications of the decline in two wheeler sales?

1>> During this period, when loans are very cheap and easily available, yet two-wheeler sales are at their lowest in a decade. Due to the cheap loan, the EMI also becomes less. So it is easy to buy it. Despite this, the fall in sales shows that people do not have confidence in their future earnings. They do not believe in the economic recovery due to Corona, due to which they do not want to bear the burden of even small EMIs. This means that RBI may try to help in economic recovery with the help of monetary policy, but it has its own limitations.

2>> If we look at the report, it is known that in 2018 there was a record increase in sales. Since then there has been a steady decline in sales. This means that the country’s economy is already on the decline path from Corona. The impact of the decision of demonetisation has become very serious. Before Corona, many economic experts were saying that the country’s economy has continued to decline since 2018.

3>> Two wheeler is called middle class ride. If there is a decline in the sales of two wheelers, it means that the condition of the middle class is getting thinner. They are struggling financially.

4>> This decline in vehicle sales shows that the effect of corona is different on different classes of people. There is no impact on sales in the passenger car segment. There has been an increase in the sales of premium cars. There has been a jump in sales of expansive real estate. There is no pressure on credit card sales. This clearly shows that the effect of corona on the people of the stronger section of the society has reduced. At the same time, the poor and middle class people are the most affected.

This news is being written right now…

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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