Two-wheelers account for 73 per cent market share in the total Indian automotive space. Hero Motorcorp and Honda Motorcycle and Scooter India (HMSI) lead the market and are the only two brands which have gained market share between FY18 and FY24. While sales of domestic two-wheelers are yet to reclaim the peak of FY19, there has been a steady increase in volumes in FY22-24 at a CAGR of 15.9 per cent, while the historical CAGR between FY09 and FY24 was at 11.1 per cent. This could be correlated with estimated penetration of two-wheeler financing increasing from 42-44 per cent in FY19 to 58-60 per cent in FY24. EV penetration is also found to be steadily accelerating
Compiled by Arun K Shanmugam
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