Boosted by exports, the three-wheeler industry has reported a 7% rise in sales for the April-November period of this fiscal to touch 623,815 units, compared with 583,140 in the comparable period of the previous year.
Boosted by exports, the three-wheeler industry has reported a 7% rise in sales for the April-November period of this fiscal to touch 623,815 units, compared with 583,140 in the comparable period of the previous year. The passenger segment of the three-wheelers grew 7% while the goods segment reported a 9.25% growth during this period, according to SIAM data. The 7% growth in total sales for the period under review was mainly driven by a 21% growth on the exports front. Exports during the period stood at 244,279 units, as against 201,404 units in the same period last fiscal. The passenger segment also reported a 21% growth to 241,255 units (199,620 units). According to the data, domestic sales during the period grew marginally by 1.32% to 381,247 units (376,274 units), which was largely due to a 5.5% growth in the goods segment to 74,903 units (70,992 units). The passenger segment almost remained static at 306,344 units in the first eight months of the current fiscal.
According to industry sources, despite the impact of demonetisation and the GST, sales in the passenger segment remained steady largely due to demand pick-up in rural markets. Exports grew sharply primarily due to improved economic conditions in global markets, sources said.
Market leader Bajaj Auto reported a healthy growth on both the domestic and export fronts. Its domestic sales during the period grew 11% to 210,829 units while exports saw a growth of 19% to 172,698 units. In November, it reported a growth of 79% in its total three-wheeler sales to 62,541 units.
TVS Motor, another major player in the three-wheeler segment, saw larger sales from the exports front with a growth of 28% to 50,486 units (39,319 units) while domestic sales grew marginally to 9,488 units (9,107 units).