Markets
Chart beat: Two-wheelers lead the way, but will the momentum continue?
Summary
- While the domestic market has been on a strong footing, exports have lagged.
Two-wheeler manufacturers continue to impress on volume growth. “Based on volumes reported by original equipment manufacturers, we estimate that two-wheeler wholesales (excluding Honda) rose about 20% year-on-year in January," said Jefferies India, adding that this was the fourth consecutive month of 15%-plus growth.
While the domestic market has been on a strong footing, exports have lagged. For instance, Bajaj Auto’s domestic two-wheeler volume was up 22% sequentially but exports fell nearly 8%. TVS Motor Co and Hero MotoCorp also saw similar trends.
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