Mumbai, Dec. 15: The low-profile three-wheeler industry is growing as fast as its high-profile two-wheeler counterpart, riding the boom as replacements and fresh demand ignite life into the segment.
In some instances, the segment has helped manufacturers shore-up their top lines and, more importantly, their bottom lines.
“Growth in the sector is together with healthy margins, unlike the two-wheeler segment which has seen margins in the popular segment getting eroded due to competition,” averred an industry official.
The Apes of Piaggio, the Minidors of Bajaj Tempo and the Champions of Mahindra & Mahindra are very quietly rustling up impressive sales growth as the cargo segment has offlate shown a resurgence quite similar to the passenger segment.
Bajaj Tempo, which is struggling to find its niche in the multi-utility and the tractor segment has found an unlikely saviour in its three-wheelers as it reported a sharp 335 increase in sales boosted by a significant increase in three-wheeler volumes.