Scooter Sales Suffer Highest Ever Decline In December 2016

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Due to the demonetisation affect, the sales of the scooters in the Indian market suffered a highest ever decline in the the month of December 2016.

Scooter Sales Suffer Highest Ever Decline In December 2016

As per the report from Society of Indian Automobile Manufacturers (SIAM), scooter sales stood at 2,84,384 units in the month of December 2016 compared to 3,86,305 units in December 2015.

Scooter Sales Suffer Highest Ever Decline In December 2016

The scooter sales in December 2016 registered a decline of 26.38 percent. Although it is a different ball game in the exports, the scooter segment grew by 12.65 percent in December 2016.

Scooter Sales Suffer Highest Ever Decline In December 2016

In December 2016, 30,779 scooters were exported as compared to the 27,323 scooters in the same period of 2015. But the domestic market sales suffered due to demonetisation.

Scooter Sales Suffer Highest Ever Decline In December 2016

For the calendar year 2016, scooter sales stood at 56,15,228 units against the 48,80,117 units sold in 2015. In terms of overall sales the scooter segment grew by 15.06 percent.

Scooter Sales Suffer Highest Ever Decline In December 2016

Director General, Society of Indian Automobile Manufacturers (SIAM), Vishnu Mathur said, "We expect this to be a temporary phenomena owing to demonetisation and poor consumer sentiments. In next 2-3 months, we will likely witness a reversal in industry fortunes."

Scooter Sales Suffer Highest Ever Decline In December 2016

He added, "Union Budget 2017 will bring in specific measures to improve consumer sentiment, disposable incomes and will provide impetus to industry in terms of market economy and investment."

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Story first published: Wednesday, January 11, 2017, 10:58 [IST]
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