Automobile industry falls by 6% as sales of motor bikes decline by 15%Motorbike sales decline 15%, auto industry by 6% and two-wheeler by 9% during April July 2007
Apnaloan.com Research Bureau
01 Sep 2007
A report by the Society of Indian Automobile
Manufacturers (SIAM) has revealed that motorcycles sales fell by 15 per cent
during April-July 2007.
Being the largest in the two-wheeler segment, the declines in sales of bikes has pulled down the overall sales of the two-wheeler segment by over 9 per cent, and the whole automobile industry falling by 6 per cent.
From April to July 2007, electric two-wheelers have emerged as a strong player. SIAM had included electric two-wheelers as a separate category after Electrotherm (India) manufacturers of Yo-bikes joined the industry organisation.
While motorcycle sales in the domestic market were down, exports of bikes and step-thrus were up 31 per cent. Manufacturers and dealers attribute the high interest rates on auto finance as the main cause of sales slow-down.