Mopeds remain fastest growing two-wheelers with October sales up 33% YoY

Moped continues to be the fastest growing segment in the two-wheeler segment. Moped sales in the domestic market grew by 33.39 per cent in October 2020 and exports grew by 63.15 per cent.

According to SIAM numbers, in October 2020 domestic moped sales rose to 80,268 units from 60,174 units, a year ago, a growth of 33.39 per cent. Scooter sales grew by 1.7 per cent to 5,90,507 units from 5,80,120 units. Motorcycle sales rose to 23.8 per cent to 13,82,749 units from 11,16,886 units.

Exports of moped rose by 63.15 per cent to 1,452 units from 890 units. Scooter exports grew by 12.44 per cent to 37,280 units from 33,154 units, while motorcycle exports rose by 27.19 per cent to 3,32,281 units from 2,61,248 units.

Mopeds customer base is largely in the rural market. One of the key growth drivers for better sales is the government’s priority of spending towards rural development and agriculture. Also, the good monsoon and a healthy sowing season led to a positive impact.

TVS Motor remained the sole manufacturer of mopeds after Hero and Kinetic exited the segment many years ago.

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