The Automotive Industry has seen the highest decline in volumes with the three-wheeler sector during the Covid-19. The two-wheeler and car industry were saved by the individual's preference for personal mobility. Increased preference for personal mobility, fear of infection from vehicle sharing, drastic fall in the last-mile transport requirements with the closure of offices, schools, and other public places, together with the inherent financing problems, and price hike after the transition to BS-VI are the stumbling blocks in the three-wheeler market.
Unlike passenger vehicles and two-wheelers that showed impressive sales growth, the domestic three-wheeler market, which is one of the largest in the world, is still having a difficult time in terms of sustaining businesses on the ground.
Bajaj RE clocked a volume of about 50,123 numbers. Even though the volumes were highest, it is also worth noticing that the highest degrowth came from this model. About 80% degrowth came from Bajaj RE. about 1,93,316 numbers were degrown.
The Maxima passenger and goods together had 31,495 and 27,686 volumes respectively. As a brand, it had 59,181 volumes in total. Bajaj has got these two models dominating the entire 3 wheeler segment.
Ape Xtra, the goods carrier from Ape continued the dream run with 36,052 numbers with degrowth of about 10854 units and it was about -23.14% down. However, the model has stood its ground and has not degrown as much as the industry declined.
Ape auto has also caught up with 17,121 units which is challenging Bajaj's dominance in the segment. This was tried by many from Piaggio to Mahindra, but Ape seems to get its act together.
Bajaj the market leader in the three-wheeler segment, saw a drop of 2,56,011 numbers. This was about 50% of the entire three-wheeler Industry's drop.
We also saw the Piaggio and Mahindra three-wheelers drop volume at 89,636 and 41,660 respectively.
On a percentage basis, none of the three OEM's saw a less than 60% drop in volume.
Atul Auto contributed about 15,349 numbers with a degrowth of about 62%
Force motors saw no dispatches under this segment.