The two-wheeler industry grew by 13.5 per cent during this period, with rural sales increasing by 14.5 per cent compared to 12 per cent growth in urban areas.
"This is primarily because the economic situation in rural areas is improving and there is a significant infrastructural push from the government," said Yogesh Mathur, director of sales and marketing at Honda Motorcycle and Scooter India (HMSI).
According to data from Jato Dynamics, rural growth has been trailing urban sales growth since the first quarter of 2018-19, only to surpass it in the first quarter of FY24 when rural growth was 5 per cent compared to urban growth of around 2 per cent. But in Q1FY25, rural growth significantly outpaced urban growth, with rural sales increasing by 18 per cent compared to 10 per cent for urban areas.
This story is from the August 26, 2024 edition of Business Standard.
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This story is from the August 26, 2024 edition of Business Standard.
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