The scooter market has been posting a consistent and seemingly unrelenting growth in the last decade or so, contributing to nearly a third of all two-wheeler sales in India in the process. However, for the first time in 13 years, the scooter market has taken a bit of a nosedive. Despite India’s punters buying a massive 67 lakh units worth of scooters in the 2018-2019 fiscal year, this number signifies a 0.27 per cent drop compared to last year. Turbulent finances and a lack of jobs have been cited as possible reasons for this slump.
Since the biggest consumers of scooters in the recent past have come from the rural and semi-urban demographics, the paucity of employment opportunities has hit this segment particularly hard. Furthermore, the ever-growing and fluctuating fuel prices, along with the recent ruling that forces vehicle buyers to purchase insurance for a full five years right at the beginning of their ownership tenure have also had an adverse impact on scooter sales, contributing to this downfall.
However, once the election process is complete and the political scenario stabilizes, there is a good chance that the numbers will get back on the upward track. For now, all we can do is wait and watch.