Two-Wheeler Industry To Sustain Steady Volume Growth Rate Of Up To 9 Pc In FY25: Report
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New Delhi: The Two-wheeler industry is expected to sustain a steady volume growth rate of around 7 to 9 per cent in FY25, considering both domestic and export markets, a new report said on Monday. The growth in FY25 is expected to be driven by higher electric vehicle (EV) sales supported by the government's Electric Mobility Promotion Scheme (EMPS) 2024, according to the knowledge-based analytical group CareEdge Ratings. "Post-covid, sales volume of two-wheelers had consistently declined during FY20, FY21 & FY22 before starting to recover from FY23, with sales momentum continuing in FY24 as well," said Hardik Shah, Director at CareEdge Ratings. In FY23, the two-wheeler industry recorded sales of 19.51 million units, an 8 per cent growth compared to the previous fiscal year's 18.01 million units. In FY24, the industry continued its upward trajectory, achieving 9.8 per cent growth with a total sales volume of 21.43 million units.
However, this ...