Rohan Kanwar Gupta, Vice President & Sector Head – Corporate Ratings, ICRA, said: “January 2022 saw the two-wheeler industry post a 14 per cent sequential growth in domestic wholesale volumes. However, the sales were 21 per cent lower on a YoY basis, highlighting the adverse impact of price hikes, fuel inflation, and omicron related concerns on consumer sentiments.”
“The supply chain issues in production of premium motorcycles also persisted. The reinstatement of localised restrictions, to contain the third wave of pandemic, constrained retail sales and led to a 11 per cent sequential fall in volumes, to 10.2 lakh units,” he added.
Auto major Maruti Suzuki India sold a total of 154,379 units in January 2022 which was lower than the off-take of 160,752 units reported in January 2021.