Two-Wheeler Industry to Boom During Festive Season: TVS
By Rediff Money Desk, New Delhi Aug 29, 2024 18:58
TVS Motor Company expects robust two-wheeler sales this festive season, fueled by strong rural demand and a bountiful monsoon. The company is confident of outperforming industry growth, driven by rising scooter popularity in rural areas.
![Two-Wheeler Industry to Boom During Festive Season: TVS](https://im.rediff.com/money/2019/apr/01tvs.jpg)
New Delhi, Aug 29 (PTI) The two-wheeler industry is expected to witness robust sales in the upcoming festive season, riding on the back of strong revival in rural demand and bountiful monsoon so far, according to TVS Motor Company Senior Vice President - Head Commuter Business Aniruddha Haldar.
In an interaction with PTI, he noted that the growth in the two-wheeler industry is also being driven by rising acceptance of scooters in the rural areas.
"In the first few months of this fiscal, we have seen the two-wheeler industry growing at 13 per cent, which is higher than what we have seen in the recent years.
"Even more heartening is the fact that in recent times we are seeing the rural demand starting to outstrip urban areas," Haldar said.
When rural demand starts outstripping urban demand it is a very good sign for the two-wheeler industry as a whole, Haldar noted.
"Given these indicators and the fact that monsoon this year, while it has given us excessive blessings in some areas, on the whole it has been bountiful. We are confident that the overall two-wheeler industry going into the festive season will exceed the current growth rates," he said.
TVS is confident of outperforming the industry growth and becoming relatively stronger, he added.
Elaborating on the factors helping the two-wheeler segment revive after years of muted growth, Haldar said: "What we see happening is that the acceptance of scooters has increased even among rural markets".
The scooter segment now accounts for 32 per cent of the total two-wheeler industry and it is set to grow further, he said.
"I think moving forward, there will be a greater share of the market that will move towards scooters. And you see that because there was a time when the cost of switching between a motorcycle and a scooter meant a reasonable amount of loss in terms of mileage, which, thanks to technology, that gap has narrowed considerably," Haldar said.
Plus, there are a lot of inherent format advantages that scooters provide in terms of space, comfort and convenience, he said.
"Also, what happened is that with the consistent investment behind infrastructure that the government has done over the years, the quality of the road, even in the rural market, has gone up considerably, which has also helped the scooter industry," Haldar said.
Besides, personal mobility has taken a centre stage with multiple members of the family using the vehicle to commute for various reasons, he added.
In an interaction with PTI, he noted that the growth in the two-wheeler industry is also being driven by rising acceptance of scooters in the rural areas.
"In the first few months of this fiscal, we have seen the two-wheeler industry growing at 13 per cent, which is higher than what we have seen in the recent years.
"Even more heartening is the fact that in recent times we are seeing the rural demand starting to outstrip urban areas," Haldar said.
When rural demand starts outstripping urban demand it is a very good sign for the two-wheeler industry as a whole, Haldar noted.
"Given these indicators and the fact that monsoon this year, while it has given us excessive blessings in some areas, on the whole it has been bountiful. We are confident that the overall two-wheeler industry going into the festive season will exceed the current growth rates," he said.
TVS is confident of outperforming the industry growth and becoming relatively stronger, he added.
Elaborating on the factors helping the two-wheeler segment revive after years of muted growth, Haldar said: "What we see happening is that the acceptance of scooters has increased even among rural markets".
The scooter segment now accounts for 32 per cent of the total two-wheeler industry and it is set to grow further, he said.
"I think moving forward, there will be a greater share of the market that will move towards scooters. And you see that because there was a time when the cost of switching between a motorcycle and a scooter meant a reasonable amount of loss in terms of mileage, which, thanks to technology, that gap has narrowed considerably," Haldar said.
Plus, there are a lot of inherent format advantages that scooters provide in terms of space, comfort and convenience, he said.
"Also, what happened is that with the consistent investment behind infrastructure that the government has done over the years, the quality of the road, even in the rural market, has gone up considerably, which has also helped the scooter industry," Haldar said.
Besides, personal mobility has taken a centre stage with multiple members of the family using the vehicle to commute for various reasons, he added.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 15.63 ( -4.17)
- 51716103
- Srestha Finvest
- 1.94 ( -1.02)
- 39556969
- Inventure Growth & S
- 2.47 ( -19.81)
- 31916723
- Genpharmasec Ltd
- 3.51 ( -4.88)
- 21009955
- GTL Infrastructure
- 2.68 ( -0.37)
- 16825789
MORE NEWS
![Google to Explore...](https://im.rediff.com/80-80/money/2024/may/24may-pixel.jpg)
Google to Explore Pixel 8 Manufacturing, AI...
Google signs MoU with Tamil Nadu government to explore Pixel 8 manufacturing, AI skill...
![Assam Govt...](https://im.rediff.com/80-80/money/2019/jan/31tea.jpg)
Assam Govt Focuses on Tea Quality, Urges...
Assam Chief Secretary calls for prioritizing quality over quantity in tea production,...
Mumbai Property Registrations to Rise 7% in August
Property registrations in Mumbai's municipal region are expected to increase by 7% in...