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Two-wheeler industry to grow by 8 pc, tractors by 4pc annually: Report
The Business Guardian
|August 29, 2024
The two-wheeler (2W) industry is anticipated to grow in high single digits, with an estimated 8 per cent year-on-year (YoY) increase whereas the tractor industry is anticipated to see marginal growth of approximately 4 per cent YoY in the domestic market, according to a report by Nuvama, a wealth and investment firm.
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The growth of the 2W market is primarily driven by strong rural demand coupled with sustained urban sales. The favourable monsoon has improved rural sentiments, leading to an uptick in sales. Additionally, wholesale volumes are expected to outpace retail sales as dealers build up inventory ahead of the upcoming festive period.
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