
Summary:
A report by Jefferies predicts that two-wheelers and tractors will grow at a strong rate of 1315% annually between 2025-27, faster than passenger vehicles (PVs) and trucks. The expected growth for two-wheelers and tractors in FY25 is 12% and 6%, respectively. In comparison, PVs are expected to grow at 8%, while trucks will see slower growth of 5% during the same period.
The report shows that two-wheelers and tractors are recovering after pandemic disruptions. In FY24, two-wheeler sales grew by 14% compared to last year, outpacing passenger vehicles (PVs), which grew by 8%. However, two-wheeler sales are still 13% lower than in FY19, while PVs are 25% higher. Tractors are expected to grow significantly. EV adoption in two-wheelers is slow but expected to reach 10% by 2027.
Source: IBEF
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