India has emerged as the largest three-wheeler industry with a large
domestic market and export base on the back of strong demand from local
as well as international markets.
“With industry volumes of 9,40,000 units in FY 2015, India is positioned as the largest manufacturer as well as market for three wheelers, globally,” an ICRA research report on the Indian commercial vehicle industry said on Monday March 14,2016
The top-three players such as market leader Bajaj Auto, second largest manufacturer Piaggio and Mahindra and Mahindra accounted for 87.3 % of the industry sales at 10 million units in FY2016.
Over the past decade during FY 2006-15, the Indian 3W industry grew a
compounded annual growth rate (CAGR) of 8.9 % in unit sales
driven by steadily rising exports as well as domestic demand. Within the
overall industry, the domestic 3W market stood at 5,32,000 units in FY
2015, registering a CAGR of 4.4 % over the past ten years, the
report said
Note
The three-wheeler market includes both passenger and cargo segments.
“With industry volumes of 9,40,000 units in FY 2015, India is positioned as the largest manufacturer as well as market for three wheelers, globally,” an ICRA research report on the Indian commercial vehicle industry said on Monday March 14,2016
The top-three players such as market leader Bajaj Auto, second largest manufacturer Piaggio and Mahindra and Mahindra accounted for 87.3 % of the industry sales at 10 million units in FY2016.
Note
The three-wheeler market includes both passenger and cargo segments.
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