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Two-wheeler manufacturers resumed production operations, starting from mid-May 2020 after the government announced the easing of lockdown regulations in the country. Most manufacturers have expectedly registered a massive decline in year-on-year sales during the month of May 2020.
However, reports now suggest that the demand for two-wheelers in India is increasing at a pace better than expected. According to a report by ET Auto, post lockdown people are preferring personal mobility over public transport. This has led to an increase in sales of two-wheelers across India.
Major two-wheeler manufacturers in the country are said to have ramped up production numbers to meet the rising demand. Production numbers of many major two-wheeler brands is already said to have reached close to 70 per cent of pre-lockdown levels.
Companies like TVS Motor, Hero MotoCorp and Bajaj Auto have ensured their supplier partners are working at 70 per cent of normal capacity since the start of June 2020. Depending on the supply chain, industry experts predict total production of two-wheelers in the month of June will be in the range of 7.5 lakh to 1 million. Data also shows that the two-wheeler industry registered 1.6-million units of production at the end of February 2020.
Speaking to ET Auto, Rakesh Sharma, ED, Bajaj Auto, stated:
"We expect that June should be almost back to 80% of a normal June with the second half of June at an almost 90% normal level. There is a large component of pent up demand that is driving current sales. We would need to assess the pattern carefully over the next month to understand where the new normal will establish itself."
Sharma also stated that the demand is higher in rural and semi-urban areas. This is because the dealerships opened earlier in these areas, rather than large metros. He also stated that this trend is set to continue as well.
Thoughts On Two-Wheeler Demand In India Post Lockdown
Two-wheeler demand in the Indian market is expected to be the first to return to normalcy post lockdown. Four-wheeler demand, however, is still increasing at a comparatively slower pace, with expectations of near-normalcy in a couple of months time.