Scooter sales outpace motorcycle segment so far by 18.4 pc YoY growth in FY25, says Motilal Oswal
Nov 23, 2024, 10:37 IST
The two-wheeler (2W) segment, particularly scooters, registered strong growth this year in the country, outpacing the motorcycle segment, according to a report by Motilal Oswal.
The report highlighted that the scooter segment within internal combustion engine (ICE) two-wheelers posted 18.4% year-on-year (YoY) growth year-to-date (YTD) in FY25. In comparison, the motorcycle segment recorded a lower, but still healthy, growth rate of approximately 13% YoY during the same period.
"Within 2Ws, the ICE scooter segment has posted 18.4 % YoY growth YTD, and the motorcycle segment has seen ~13 % YoY growth," said the report
Overall, the report also noted that the ICE two-wheeler segment continues to outperform, registering a solid 14.6% YoY growth in YTDFY25. In contrast, the passenger vehicle (PV) segment recorded a muted 0.6% YoY growth during the same period, highlighting the dominance of two-wheelers in the market.
It said "2W ICE segment continues to outperform, with 14.6% YoY growth in YTDFY25, compared with muted 0.6% YoY growth for PV segment.".
The report highlighted divergent growth trends within the motorcycle segment. The 100cc motorcycle sub-segment underperformed, posting around 9% YoY growth in FY25 so far. However, the 125cc segment stood out, delivering exceptional growth of approximately 20% YoY.
Similarly, the 150-250cc segment demonstrated strong performance with about 17% YoY growth on a YTD basis.
The report data stated that the PV industry exhibited sluggish growth, expanding by just 0.9% YoY in October 2024 and 0.6% YoY in YTDFY25. However, within the PV segment, utility vehicles (UVs) continued to shine, with their contribution increasing to 64.8% of the overall PV market.
While the two-wheeler segment has significantly outperformed passenger vehicles so far in FY25, the report cautioned that growth in the segment may moderate for the rest of the fiscal year.
Despite this, the strong performance of scooters and select motorcycle sub-segments highlights the ongoing demand and resilience of the two-wheeler market in India.
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The report highlighted that the scooter segment within internal combustion engine (ICE) two-wheelers posted 18.4% year-on-year (YoY) growth year-to-date (YTD) in FY25. In comparison, the motorcycle segment recorded a lower, but still healthy, growth rate of approximately 13% YoY during the same period.
"Within 2Ws, the ICE scooter segment has posted 18.4 % YoY growth YTD, and the motorcycle segment has seen ~13 % YoY growth," said the report
Overall, the report also noted that the ICE two-wheeler segment continues to outperform, registering a solid 14.6% YoY growth in YTDFY25. In contrast, the passenger vehicle (PV) segment recorded a muted 0.6% YoY growth during the same period, highlighting the dominance of two-wheelers in the market.
It said "2W ICE segment continues to outperform, with 14.6% YoY growth in YTDFY25, compared with muted 0.6% YoY growth for PV segment.".
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Similarly, the 150-250cc segment demonstrated strong performance with about 17% YoY growth on a YTD basis.
The report data stated that the PV industry exhibited sluggish growth, expanding by just 0.9% YoY in October 2024 and 0.6% YoY in YTDFY25. However, within the PV segment, utility vehicles (UVs) continued to shine, with their contribution increasing to 64.8% of the overall PV market.
While the two-wheeler segment has significantly outperformed passenger vehicles so far in FY25, the report cautioned that growth in the segment may moderate for the rest of the fiscal year.
Despite this, the strong performance of scooters and select motorcycle sub-segments highlights the ongoing demand and resilience of the two-wheeler market in India.
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This data highlights the evolving dynamics in the automotive industry, where affordability and shifting consumer preferences are driving growth across certain segments while others face stagnation.