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Brief about India’s Two Wheeler Market

02 Jul, 2018 Divesh Mishra

India is now the world’s biggest two wheeler market. In the year 2017-18 about 2 cr two wheelers were sold. India is also the world’s fifth largest passenger vehicle market. 33 lac passenger vehicles were sold during the same year. Both the sales figures are lifetime high for the country.

Sale of vehicles is a trigger for sales of components (also known as Original Equipment Manufacturing or OEM) including tyres. The current year 2018-19 is set to scale newer highs for two wheelers, cars and components as well as tyres.

As far as tyres are concerned, two prominent manufacturers named MRF and Balakrishna have posted very good results. MRF has the distinction of having the highest share price of over Rs 75,000 with a market capitalisation of over Rs. 31,000 cr. Balakrishna has a market capitalisation of over Rs 20,700 cr.

Endurance Technologies (a company by Anurang Jain, nephew of Rahul Bajaj), Minda Industries (owned by Nirmal Minda) and Varroc Engineering are also in component manufacturing and have posted ever increasing results over the years. The older, more illustrious names here are Motherson Sumi and Sona Steering group.

Everyone knows about the value and valuations created by the respective houses of Munjals (Hero), Bajajs (Bajaj), Mahindras (M&M) and TVS (TVS). These are household names in the Indian automobile and component manufacturing in the family owned sector. Tatas are very large but they are not a family business.