New Delhi . There has been an increase in the sales of twowheelers and threewheelers in the second quarter of this financial year. Twowheeler sales witnessed strong doubledigit growth on a yearonyear basis in the second quarter, according to a report released on Wednesday.
On the other hand, threewheeler sales recorded single digit growth. The wholesale volume trend remained mixed.
Between July and September, original equipment manufacturers (OEMs) saw varying revenues and profits. Twowheelers performed better than other vehicles.
“We are still positive on passenger vehicles (PV) over the long term given favorable sector conditions and view weakness in commercial vehicles (CV) as a temporary headwind,” according to the BNP Paribas India report.
Passenger vehicle volumes declined marginally and commercial vehicle volumes also remained weak, impacted by prolonged monsoon and slowdown in infrastructure activities.
Honda Motorcycle gained the highest market share (retail) among twowheelers, while Hero MotoCorp Ltd incurred the highest loss in Q2FY25.
Among passenger vehicles, Mahindra & Mahindra gained the highest market share, while Maruti Suzuki India Ltd. and Hyundai suffered losses.
According to the report, twowheeler sales are expected to grow rapidly in the second quarter of FY2025, while passenger vehicle sales, except Mahindra, may decline slightly.
It will be important to keep an eye on high levels of passenger vehicle inventory, rising discounts and festive demand.
“Given weakening global auto demand, we now see a risk for Jaguar Land Rover (JLR) to cut its fiscal 2025 guidance,” the report said.
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Image Credit: KhasKhabar.