Lot more scope for 2-wheeler growth across country: SIAM

Vikram Kirloskar believes the auto industry grew just 2-3 percent last year but this year it is expected to double its growth to around 5 percent.

Two-wheelers will continue leading the auto pack even in 2015, despite having reported weak demand in December, says Society of Indian Automobile Manufacturers (SIAM) President Vikram Kirloskar. The two wheeler sales came down by a little less than a percent in December.

According to him, the lower demand for two-wheeler vehicles in December may just be a one-off as there is a lot more scope for growth of two-wheelers in India.

In an interview to CNBC-TV18, Kirloskar says the auto industry grew about 2-3 percent last year but this year it is expected to double its growth to around 5 percent.

Below is verbatim transcript of the interview:

Q: In car sales we saw quite a bit of traction last month but do you think it was a bit of a one-off because of the pre-buying ahead of excise duty benefit being withdrawn or do you think there is genuine sign of some recovery there?

A: I think it is going to be a one-off because of the excise duty hike which was expected in January. Also, a lot of companies were giving discounts to clear out the 2014 stocks. I think it was a combination of both. December numbers look great, the average four wheeler growth is like 14-15 percent up compared to last year and it is good to have such numbers.

Regarding commercial vehicles also there has been some improvement from last year.  There is some improvement in three wheelers space as well. Only the two wheelers have come down by a little less than a percent which is unfortunate.

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