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FY2021 two-wheeler sales still under the weather
India Auto Inc. holds a faint hope of growth in sales, thanks to the motorcycle and car segments. From March 2020 to 2021, the sales that the OEMs of the top four motorcycle companies announced revealed a recovery of the sales in the second half of the year. The rising number of COVID-19 cases is further creating a fear of a halt in production due shortage of supply-chain and high fuel prices.
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- FY2021 two-wheeler sales still under the weather
Hero MotoCorp recorded a 72% increase in sales in March 2020. Motorcycle makers recorded 19% growth in comparison to February 2021. Splendor and Hero HF were two best-selling bikes in January.
Hero also 82% record sales in March. However, comparing overall performance, Hero MotoCorp has sold 57, 91,539 motorcycles in 2021, which can be up to Rs 2500.
Honda Motorcycle & Scooter India sold 395,037 units in March 2021 which is 61% more than the last year. And the month on month sales still went down. They have imported 16000 units in February, 2021 and are expanding their premium segments.
TVS Motor Co. exports increased 164% in March; Bajaj Auto exports also increased 32% in comparison to March, 2020.
Bike insurance companies
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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In many Indian households, a bike is rarely used by just one^The buying/renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*₹457/- per annum (₹1.3/day) is the price for third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable annually. The list of insurers mentioned is arranged according to alphabetical order of the names of insurers respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For the complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website: www.irdai.gov.in
