Demonetisation impact can still be felt in two-wheeler segment: SIAM

By: | Published: February 9, 2017 2:28 PM

Though the impact of demonetisation is finally wearing off in certain segments, Society of Indian Automobile Manufacturers (SIAM) on Thursday said its impact can still be felt in the two-wheeler segment.

The January two-wheelers sales registered a decline of -7.39 percent as compared to January last year, SIAM said.The January two-wheelers sales registered a decline of -7.39 percent as compared to January last year, SIAM said.

Though the impact of demonetisation is finally wearing off in certain segments, Society of Indian Automobile Manufacturers (SIAM) on Thursday said its impact can still be felt in the two-wheeler segment. “We expect big revival in commercial segment in the next two months. The rural markets are deeply impacted by note ban and will take more time to recover”, it said. The January two-wheelers sales registered a decline of -7.39 percent as compared to January last year, SIAM said.

During the demonetization period sales of two-wheelers slid 22 percent in December 2016 as compared to the figures, which came in December 2015, marking the highest monthly contraction since SIAM started recording the data since 1997. Mentioning the domestic sales for the month of January 17, it said that the overall automobile sales have declined by -4.71 percent in January as compared to January 16.

The overall passenger cars (including cars, utility vehicles, vans) sales grew by 14.40 percent, with the passenger cars sales growing by 10.83 percent. While sales of commercial and passenger vehicles seem to have recovered from the impact of demonetisation, the two-wheeler industry continues to be under pressure. Motorcycle sales declined 6.07 per cent to 8,19,386 units last month as against 8,72,323 units a year earlier.

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Total two-wheeler sales in January declined 7.39 per cent to 12,62,141 units as compared with 13,62,879 units in the year-ago month.

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