Domestic two-wheeler volume to shrink 1-4% YoY this fiscal: Icra
Financial Express Mumbai|November 23, 2021
DOMESTIC TWO-WHEELER (2W) volume is expected to shrink by 1-4% year on year this fiscal year, impacted by the relentless increase in 2W prices as well as record-high petrol cost, among others, credit rating agency Icra has said.

Further, Icra said the lackluster festive season performance also highlights the continued wariness among the low-income population regarding big-ticket purchases.

Icra Ratings expects domestic two-wheeler volumes to contract by 1-4% YoY in FY2022, following a weak festive season performance for the industry.

Also, the sales of 8.05 million two-wheelers in the domestic market in the April-October period of FY2022 are flattish on a YoY basis despite a severely contracted base, it stated.

The relentless increase in 2W prices during the year and record-high petrol rates have kept consumers away from dealerships, according to the credit rating agency.

Additionally, the financiers have remained cautious, after witnessing an increase in delinquency levels.

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