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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
02 July, 2025 17:17 IST
Domestic 2W market continues to exhibit weakness due to subdued demand
Source: IRIS | 03 Dec, 2021, 12.36PM
Rating: NAN / 5 stars.
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In November 21, Overall Indian Auto industry struggled to recover from sluggishness primarily led by 2W and Tractors. The Passenger Vehicle (PV) segment reported volume drop primarily owing to semiconductor shortages although demand remains strong. "The Domestic 2W market continues to exhibit weakness due to subdued demand," stated IDBI Capital Equity Research.

The CV segment reported volume recovery was primarily due to lower base, higher Infra spending and increased freight movement across India while the Tractor segment performance impacted due to cyclical downturn. "Our top picks are MSIL & SonaComs. MSIL is well placed to address turnaround in Indian PV market while SonaComs exposure to EV will aid to its growth,"
it added.

Key highlights:


PV segment:
The industry PV Sales in Nov-21 at 248k, remains flat on MoM basis. Despite the chip shortages supply constrains in last few months, the demand for PV remains intact. Going forward we expect gradually recovery in the segment.

2W segment:
The industry 2W Sales in Nov-21 at 1.3mn down by 27% MoM. The weak demand in Rural and Urban India, subdued festive sales and higher fuel prices dented the performance. The recovery is expected only in FY23.

CV segment:
The industry CV Sales in Nov-21 at 46.8k, up by 10% YoY. The growth in the segment was primarily due to opening of economy, revival in freight movement and pick up in construction activities. We expect volume recovery to sustain in upcoming months.

Tractor segment: The industry Tractor Sales in Nov-21 at 34.8k, down by 43% MoM. The volume decline was on account of cyclical nature of business and higher base. We expect single digit volume growth for the segment in FY22.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

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