According to an ICRA report, the industry witnessed a de-growth in both the key product segments - motorcycles and scooters - during the last five months (November 2016-March 2017), resulting a compression of 6.5 per cent over last year.
"Among the various two-wheeler product segments, both scooters and motorcycles were significantly impacted by the demonetisation exercise, while mopeds continued to report growth on their low base," said Subrata Ray, Senior Vice President and Group Head, corporate sector ratings at ICRA.
"The new fiscal has also started off with a growth of 7.3 per cent in April 2017, with the impact of demonetisation wearing off and both major product segments gradually reporting an uptick in their growth rates."
The industry had posted a strong double-digit growth over last year across all the product segments between April to October 2016.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.