ICRA foretells no significant improvement in sales for two wheeler industry in 2013-14
ICRA Limited, an Indian independent and professional credit rating agency has predicted flat sales where domestic two wheeler industry is concerned. It has been stated that in 2013-14, the two wheeler industry will report volume CAGR of 8 to 9% with between 21 to 22 million units sold by financial year 2016-17.
Despite the festive season well upon us, the two wheeler companies have not offered any festive discounts and innovative and attractive schemes to attract buyers. In fact this industry has resorted to a total of three price hikes in the past 12 months when prices increased by INR 300-4,000 in October 2012, INR 500-1,500 in May 2013 and again an increase of INR 500 to 6,000 in October 2013.