Export of two-wheelers increase by 17 pc
New Delhi, Aug 12: Exports of two-wheelers have revved up in the last one year with exports jumping by 17 per cent in the last fiscal.
Exports of motorcycles jumped by 23.4 per cent to 68,953 units in July 2007 in comparison to the corresponding period last year, while exports of scooters decreased by 39 per cent to 2,615 units in the said period, according to figures released by Society of Automobile Manufacturers Association (SIAM).
However, a sharp increase in interest rates have resulted in a significant slowdown of domestic sales.
Bajaj Auto was the largest exporter with overseas sales of 1,58,127 units, followed by TVS Motor at 29,291 units and Yamaha 24,147 units.
Most of the exports were accounted for by the smaller engine capacity bikes between 75 cc to 125 cc. A total of 54,402 units were sold in this segment in July in comparison to 42,783 units during the same period a year ago.
''This trend in exports is going to accelerate further with global two-wheeler makers stepping up sourcing of smaller bikes from India and Indian bike manufacturers setting up assembly units overseas,'' an industry observer said.
The total domestic sales of the two-wheeler industry is expected to grow at around 10-12 per cent over the next three years, ICRA report said.
The factors likely to drive sustained growth include high growth rate in middle income households, changing lifestyles, shorter replacement cycles, better products at lower prices and wider availability of financing.