Three-wheeler sales have taken a hit ever since the lockdown was imposed
People’s reluctance to share space with other passengers has led to reduced use of auto rickshaws across the country. This has ultimately impacted rickshaw sales. The trend has continued in December 2020, where auto rickshaw sales have registered negative YoY growth of -52.75%. A total of 27,715 units were sold, as compared to 58,651 units in December 2019.
However, things seem to be gradually getting better now, as MoM sales have registered double-digit growth in December 2020. MoM sales are up 14.60%, as compared to 24,185 units sold in November 2020. All rickshaw manufacturers have positive MoM growth, which is an encouraging sign for three wheeler segment.
Bajaj Auto sold a total of 9,570 units in December 2020, which is YoY de-growth of -60.69%. Sales during December 2019 were 24,347 units. The company’s market share in December 2020 was 34.53%. In terms of MoM sales, growth is 8.81%. Sales in November 2020 were 8,795 units.
At number two is Piaggio with 5,037 units sold in December 2020. As compared to 10,260 units sold in December 2019, YoY sales are down by -50.91%. Piaggio commanded a market share of 18.17% in December 2020. The company’s MoM growth is 12.13%, as compared to 4,492 units sold in November 2020.
Mahindra takes the third place with 1,212 units sold in December 2020. It had a market share of 4.37%. YoY de-growth is -68.87%, as compared to 3,893 units sold in December 2019. MoM sales are up 22.67%, as compared to 988 units sold in November 2020.
Next in the list is Atul Auto with 1,187 units sold in December 2020. YoY sales are down -69.99%, as compared to 3,955 units sold in December 2019. The company’s market share was 4.28% in December 2020. Atul Auto’s MoM growth is at 11.46%, as compared to 1,065 units sold in November 2020.
TVS takes the fifth spot with 790 units sold in December 2020. YoY de-growth is at -24.18%, as compared to 1,042 units sold in December 2019. TVS had 2.85% market share in December 2020. The company has registered MoM growth of 20.06%, as compared to 658 units sold in November 2020.
Other manufacturers and electric vehicles make up for the remaining sales of 9,919 units in December 2020. While YoY growth is negative at -34.55%, MoM sales have improved by 21.16%.
Vaccination could help
With vaccination, people will feel less threatened with using public transport options such as rickshaws. This will increase rickshaw usage and help boost sales. However, as the effectiveness of new vaccines is yet to be ascertained on a large scale, it’s difficult to predict the future with certainty.
Moreover, new virus mutations have been detected and it’s not known if the vaccines will be effective against them. Such factors will continue to be a cause for concern for the auto industry including the rickshaw segment.