Growth Prospective in India’s 2-Wheeler Segment
March 4, 2008
Indian Ministry of Finance is under heavy pressure from auto industry to bring down excise duty for 2- and 3-wheelers from 16% to 8%.
If the Ministry of Finance will decide to bring down excise duty, this move may boost significantly the entire segment of motorcycles in India. Two-wheeler segment, targeting low income population, is extremely price sensitive. The overall motorcycle market in India has been growing rapidly, reaching approximately 9 million units in 2007, at about 17% CAGR from 2004. The market is expected to grow further in 2008, up to approximately 11 million units.
Categories: Market Intelligence |
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