EIC Framework: Two-Wheeler Industry Analysis |
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EXCERPTS |
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The Indian two-wheeler industry was part of the US$93 billion (2016) Indian automobile industry. In FY17, the two-wheeler industry constituted more than 80% of the Indian automobile industry in terms of number of vehicles sold in a year.. |
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| INDUSTRY GROWTH RATE |
| The Indian two-wheeler industry grew at a Compound Annual Growth Rate (CAGR) of 8% in FY 2011-2015. However, the growth rate fell to 3.01% in FY16 due to almost zero percentage growth .. |
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| FOREIGN DIRECT INVESTMENT |
| The Indian government did not put the two-wheeler industry under the licensing agreement and allowed 100% Foreign Direct Investment (FDI) in the industry under the automatic route... |
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| COST STRUCTURE AND PROFITABILITY |
| The major raw materials used by the two-wheeler industry were steel, aluminum, rubber, copper, lead, zinc, and plastic. Raw material constituted the most significant expense for the industry. Raw material accounted for about 62% of the total sale of the industry... |
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| TECHNOLOGY AND RESEARCH |
| In 2017, the two-wheeler industry was focusing on major research in the areas of mileage, safety features, and, most importantly, electric two-wheelers. |
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| DEMAND DRIVERS AND SEASON |
| The demand for two-wheelers in a country depended to a large extent on the economic development of the country and the income level of its citizens. Developed countries had less demand for two-wheelers than developing countries. |
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| DEMAND-SUPPLY POSITION |
| In India, young males in their twenties preferred motorcycles to scooters. There was the growing demand for premium bikes and superbikes (bikes above 500cc) among Indian males,... |
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| NATURE OF COMPETITION AND KEY SUCCESS FACTORS |
| Experts stated that there was cut-throat competition within the two-wheeler industry which was intensifying with every passing year. . |
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| SEGMENTATION OF TWO-WHEELER INDUSTRY |
| The Indian automobile industry was divided into passenger vehicles, commercial vehicles, three-wheelers, and two-wheelers. .. |
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| EXPORT OF TWO-WHEELERS |
| In 2017, India was one of the leading global exporters of two-wheeler vehicles. Indian and foreign two-wheeler companies used India as a manufacturing hub to export two-wheelers around the world.. |
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| GOVERNMENT POLICIES |
| In 2013, the Government of India came up with National Electric Mobility Mission Plan (NEMMP) 2020 to encourage reliable, inexpensive.. |
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| EMISSION NORMS FOR TWO-WHEELERS |
| In India, the Central Pollution Control Board (CPCB) regulated water and air pollution. In India, the emission control era began in 1991 when emission norms became applicable for petrol vehicles. .. |
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| CHANGING REGULATORY ENVIRONMENT AND ITS IMPACT |
| On March 29, 2017, the Supreme Court ruled out any possibility of sale and registration of BS III vehicles from April 1, 2017. .. |
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| PLAYERS IN TWO-WHEELER INDUSTRY |
| In 2017, there were many players [Original Equipment Manufacturers (OEMs)] in the Indian two-wheeler industry (Refer to Exhibit XII). .. |
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| HERO MOTOCORP LTD. |
| Hero MotoCorp was the leading two-wheeler companies in the world going by the number of units sold in a calendar year. . |
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| HONDA MOTORCYCLES & SCOOTERS INDIA |
| By the end of FY17, HMSI was the second largest two-wheeler player in India. HMSI was the wholly-owned Indian subsidiary of HMCL.. |
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| TVS MOTOR COMPANY |
| TVS was one of the leading two-wheeler manufacturers in India. The company produced motorcycles, scooters, mopeds, and three-wheelers at its four manufacturing units and had a total production capacity of 3.2 million two-wheelers and 120 hundred three-wheelers. |
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| BAJAJ AUTO LIMITED |
| Bajaj Auto was a multinational two- and three-wheeler producer. The company was established in 1945 by Jamnalal Bajaj. By the end of FY17.. |
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| INDIA YAMAHA MOTOR PRIVATE LIMITED |
| In 2017, India Yamaha Motor Private Limited (IYM) was a joint venture between two Japanese automobile companies –Yamaha Motor Co., Ltd and Mitsui & Co. In 2016.. |
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| SUZUKI MOTORCYCLES INDIA PRIVATE LIMITED |
| Suzuki Motorcycles India Private Limited (Suzuki) was the wholly-owned subsidiary of Japanese company Suzuki Motor Corporation. Suzuki entered the Indian two-wheeler market with TVS in 1982.. |
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| MAHINDRA TWO-WHEELERS LIMITED |
| Mahindra Two-Wheelers Limited (MTWL) was founded in 2008 by Mahindra & Mahindra Limited (M&M), . |
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| OTHER PLAYERS |
| In 2017, Piaggio Vehicles Private Limited (Piaggio) and Royal Enfield were the other players in the Indian two-wheeler.. |
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| TOP SELLING TWO-WHEELERS IN INDIA |
| There was not much in the way of product differentiation within the industry. Even if any player introduced a vehicle with some extra . |
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| KEY RISKS FACED BY INDUSTRY PLAYERS |
| Players within the two-wheeler industry faced various types of internal and external risks. Some of the key risks faced by market players were. |
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| LOOKING FORWARD |
| Industry experts believed that the scooter segment continued to be a growth engine for the Indian two-wheeler industry. |
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| EXHIBITS |
Exhibit I:Top 15 Motorcycle Exporters Countries in 2016
Exhibit II: Two and Three Wheelers Production Trends
Exhibit III: Two and Three Wheelers Domestic Sales Trends
Exhibit IV: Distribution of Cost of Two- & Three-Wheeler Industry*
Exhibit V: Selected Ratios of Two - & Three-Wheeler Industry
Exhibit VI: Various Segments of Automobiles Industry
Exhibit VII: Top 5 Best Selling Motorcycles
Exhibit VIII: Top 10 Scooters in India in Terms of their Sales in May 2017
Exhibit IX: Two and three wheelers Export Trends
Exhibit X: Top Ten Two-Wheeler Exporters in FY2016-17
Exhibit XI: Change in Different Pollutants with Change in Emission Norms
Exhibit XII: Two-Wheeler Brands in India in 2017
Exhibit XIII: Top Players in the Indian Two-Wheeler Industry
Exhibit XIV: Top 10 Selling Two-Wheelers in India in FY17
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