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• Introduction.• Benefits of Two-Wheeler.• Overview.• Contribution to G.D.P.• Segment Wise Market Share.• Demand Drivers.• Influence to Supply Side.• Market Share.• Export.• Effect of G.D.P on Two-Wheeler.• Two-Wheeler Penetration in India.• Installed Capacities of Two-Wheeler Companies.• Effect of Inflation.• Government Initiatives.• Conclusion. Group-8 2
India, is the second largest producer of two-wheelers in the world. In the last few years,the Indian two-wheeler industry has seen spectacular growth. The country stands next toChina and Japan in terms of production and sales respectively.Majority of Indians, especially the youngsters prefer motorbikes rather than cars.Capturing a large share in the two-wheeler industry, bikes and scooters cover a majorsegment. Bikes are considered to be the favorite among the youth generation, as theyhelp in easy commutation.Two-Wheelers Segment in India:1.Motorcycles.2.Scooters.3.Mopeds. Large variety of two wheelers are available in the market, known for their latesttechnology and enhanced mileage. Indian bikes, scooters and mopeds represent styleand class for both men and women in India. Group-8 3
Two-wheelers are the most popular and highly sought out medium of transport in India.The trend of owning two-wheelers is due to its-1.Economical price2.Safety3.Fuel-efficient4.Comfort levelHowever, few Indian bike enthusiasts prefer high performance imported bikes. Some ofthe most popular high-speed bikes are Suzuki Hayabusa, Kawasaki Ninja, SuzukiZeus, Hero Honda Karizma, Bajaj Pulsar and Honda Unicorn. These super bikes arespecially designed for those who have a zeal for speedy drive. Group-8 4
• The Indian two-wheeler (2W) industry recorded sales volumes of 13.4 millionunits in 2011-12.• A growth of 14.0% over the previous year.• In a year where in growth in other automobile segments particularly,passenger vehicle (PV) and medium & heavy commercial vehicle (M&HCV),slowed down to single digits.• 14% growth recorded by the 2W industry remained steady.• The momentum in the 2W industry’s volume growth too has been losingsteam lately as evident from the relatively lower volume growth of 11.0%recorded in H2, 2011-12 (YoY) against a growth of 17.1% recorded in H1, 2011-12 (YoY). Group-8 5
• The deceleration in growth is largely attributable to the motorcycles segmentwhich grew at a much lower rate of 7.8% (YoY) in H2, 2011-12 vis-à-vis 16.4% inH1, 2011-12.• The scooters segment continued to post 20%+ (YoY) expansion during bothhalves of the last fiscal.• The share of the scooters segment in the domestic 2W industry volumesincreased to 19.1% in 2011-12 from 17.6%.• Over the medium term, the 2W industry is expected to report a volume CAGR of9-11% to reach a size of 24-26 million units (domestic + exports) by 2016-17. Group-8 6
Two-Wheeler Sector Contributes to 6% of India’s G.D.P: Group-8 7
Table 1: 2W Penetration in India(Figures in million) 2009-10Total number of households 222Households (with annual income <90,000) 114Households (with annual income between 90,000-1,000,000) 104Households (with annual income >1,000,000) 42W population in India 802W PenetrationBased on total number of households 36%Based on addressable income levels 74% Group-8 14
Actual Expected*million units 2009-10 2010-11 2011-12Hero Honda 5.4 5.6 5.7Bajaj Auto 3.9 4.5 5.0TVS 2.4 2.8 3.0HMSI 1.6 2.0 2.2Suzuki 0.3 NA 0.5Yamaha 0.6 NA 1.1Royal Enfield 0.7 0.7 NAMahindra 2W - 0.5 0.5 Group-8 15
Least affected by the prevailing headwinds in the industry:• The Indian two‐wheeler manufacturers are the least impacted by adverse forces such asrising prices of fuel, rising interest rates and commodity inflation.• The addition to the fuel bill of a typical two‐wheeler owner, following a 10% rise in theprice of petrol, is estimated at c0.2% of pre‐tax income. The corresponding impact for acar owner is estimated at c0.5% of pre‐tax income.• the adverse effect of an increase in commodity prices such as steel and aluminum ismarginally lower for two‐wheelers in comparison to passenger vehicles.• Growth in two‐wheeler sales has been led by the rural segment, which comprised 45%of total sales in FY11..• regardless of the headwinds, we believe the structural story in the two‐wheelersegment is still intact and the segment is estimated to grow at a CAGR of 12% over FY12f‐FY14f. Group‐8 16
• The Indian government encourages foreign investment in the automobile sector andallows 100% FDI under the automatic route. It is a fully delicensed industry, freely allowingimports of automotive components.• The government has made successive policy changes that allow for stronger growth in theautomotive sector. Major among these are: 1. Automotive Mission Plan: The plan has been prepared to accelerate and sustain growth in the automotive sector during the period 2006– 2016. It aims to make India a global automotive hub. This will involve doubling the contribution of the automotive sector to the country’s GDP by taking its turnover to USD 145 billion and providing additional employment to 25 million people with special emphasis on the export of small cars, MUVs, two‐ and three‐wheelers and auto components. 2. National Automotive Testing and R&D Infrastructure Project: This is a USD 400 million initiative of the Government of India and various state governments; it is aimed at creating a state‐of‐art, dedicated testing, validation and R&D infrastructure across the country. Group‐8 17