Three-Wheeler Segment Clocks Healthy Sales Growth
Modified On Oct 29, 2022 02:39 PM
Overall sales volume doubled in the first half of this fiscal year
Three-wheeler popularly known as ‘auto-rickshaws’ are one of the key vehicle categories in the overall commercial vehicle segment in India. The passenger and cargo-carrier three-wheeler are vital to the absolute last-mile delivery ecosystems in India’s transport and logistics industry.
Auto-Rickshaws are affordable and also convenient to use in cities, towns, and villages for people and cargo mobility needs. These omnipresent vehicles also become huge employment generators for people within their local areas.
Higher mobility needs across India to carry people and cargo remain buoyant and this is keeping the sales of three-wheeler in top gear. Looking at the sale of the first six months (April-September) of the fiscal year 2023, the overall auto-rickshaw segment posted a strong sale of 1,96,612 units as against 95,451 units in the same period last year, registering a strong jump of 206%. Thus, after the pandemic dampened the market of this price-sensitive vehicle segment, the demand for auto-rickshaw is now back strongly.
The greater demand across urban and rural markets augur well for all the top three-wheeler brands as their sales zoomed significantly during the period. Bajaj Auto stays at the top with the highest market share of 57% with a total volume of 1,11,369 units sold during this period. Piaggio Vehicle is the second largest player, commanding a 19.5% share of the overall market with 38,341 unit sales.
Mahindra is the third largest player with 25,580 units sales by way of 13% of market share, followed by Atul Auto 9,920 units and TVS Motors 7,739 units and Continental Engines which retails the (Baxy branded auto-rickshaws) 3,663 units sales, 5%, 4%1.9% market share, respectively.
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