Mahindra Two Wheeler Sales Down 53.7% In February 2015

Mahindra Two Wheelers Ltd. (MTWL), part of the USD 16.5 billion multinational Mahindra Group, today announced its sales numbers for February 2015. 

Two Wheelers reported a sale of 8,591 units in February 2015, equating to a 53.7 % sales decline when compared to the same from previous year i.e., 18553 units.

That’s quite a drop from last year, but most of the players in the Indian Two Wheeler market have been dealing with such lows, except Royal Enfield, Honda, Suzuki and TVS, with Royal Enfield posting the highest growth rate of a whopping 49%.

Though the rating agency, ICRA, predicted the Indian Two Wheeler sales to log a growth of 8-9% this financial year, volume growth in the industry has reported deceleration over the last few months, dragged by declining volumes of motorcycles segment. The scooter market is doing well but has failed to compensate for the heavy decline.

While the domestic market may not seem so attractive to the manufacturers, there is a large opportunity available to grow presence in overseas markets, mainly Africa and Latin America and that is what the makers are aiming at.