Depressed rural market continues to dampen two-wheeler sales: Siam
Siam president Rajan Wadhera said that various disruptions like floods and excessive rainfall in several regions impacted two-wheeler sales which largely cater to the mobility requirements of rural India.
Total two-wheeler sales in October declined 14.43 per cent to 17,57,264 units compared to 20,53,497 units in the year-ago month.
Motorcycle sales, last month, declined 15.88 per cent to 11,16,970 units as against 13,27,758 units a year earlier. Scooter sales last month declined by 9.83 per cent to 5,80,120 units as against 6,43,382 units in the year-ago period.
Wadhera, however, noted that once farmers have enough cash in hand, there will be an uptick in sales, beginning from November.
Market leader Hero MotoCorp reported 18.43 per cent decline in total sales at 5,99,248 units in October 2019, while second-largest player Honda Motorcycle & Scooter India reported a marginal dip of 0.6 per cent in sales at 517,808 units in October 2019.