Three Wheeler Industry has been on a growth trajectory since past 2 years and has been growing significantly when compared to the overall Auto Industry. In fact, the Three Wheeler Industry grew a healthy 36% in Apr-Sep’18 when compared to the same period last year. These numbers indicate that demand in the three-wheeler market is currently sustainable. Earlier the industry saw a decline due to three-wheelers being replaced by aggressively priced, small four-wheeled mini-trucks. But current industry numbers contradict that.
Bajaj Auto is the Maruti of Three Wheelers! Yes; with a Market Share of 58% and a segment-leading YoY growth of 50% Bajaj Auto has been growing extremely strong in the segment. Bajaj has also taken the lead and ventured into Quadricycle segment with its offering ‘Qute’.
While Piaggio, the No. 2 player, has sold 85,657 units in the first of this financial year, which marks growth of 19 percent. Mahindra & Mahindra sold 30,774 units (+30% YoY). Meanwhile, the Rajkot-based Atul Auto sold a total of 20,837 units, a 6% YoY increase.
Bajaj + Piaggio command 82% of the Market Share. The duopoly has clearly dominance in the segment.