Riding high on the export front, the three-wheeler industry ended fiscal 2018 with a 30.39 % growth at 10.22 lakh units compared with 7.84 lakh units in fiscal 2017. While the domestic sales saw a growth of 24.19% to end the fiscal with the sale of 635,698 units as against 511,879 units sold in the previous fiscal of 2017, exports were at 381,002 units during fiscal 2018 as against 271,894 units, recording a whopping growth of 40.08%, according to SIAM data.
Passenger three-wheelers as usual grew 34% to end the fiscal with 899,023 units (671,361 units in FY17), the goods carrier saw a growth of 9.37% only to end at 122,888 units as against 112,360 units sold in the 2017 fiscal, the data pointed out. According to data, the domestic sale of passenger vehicles grew 29% to 517,423 units and that of exports grew 40% to 376,811 units in the fiscal 2018. While there was a marked 7.83% growth in the domestic three-wheeler goods segment to 118,275 units. However, on the export front, Indian companies failed to make a mark on the goods segment, which was at 4,191 units for the whole 2018.
Aided strongly by the exports, market leader Bajaj Auto saw a whopping growth of 44% to end the fiscal with 640,473 units, with exports alone contributing to 266,215 units (a growth of 39% over the fiscal 2017. Piaggio came distance second to post a meagre 3.89% growth to the fiscal with 176,599 units. Southern major TVS Motor posted a strong growth of 46% on lower base with its volume touching 99,145 units during the fiscal. The growth and sales majorly driven by exports, which saw a 44.37% growth to 82,255 units, said the SIAM data.
Other players such as Mahindra & Mahindra and Atul Auto posted an annual growth of 12% and 9.44%, respectively, with majority of their sales driven by domestic market. For market leader Bajaj Auto, the passenger version always hold the key for it to make it big in the domestic market with sales touching 617,330 units in the fiscal 2018 as compared to 432,166 units. Out of its total sales, TVS saw its passenger version grew sharply to 99,145 units.
Source: Financial Express