Two-Wheeler Sales Accelerate in Rural India, Hinting at First Signs of Demand Revival

Motorcycle and scooter sales likely grew 13-18% in FY23-24, crossing pre-Covid levels, indicating an uptick in rural demand
Rural India accounts for over 50% of two-wheeler sales; entry-level bikes seeing demand revival in rural markets
Vehicle registrations grew 13% in Feb 2023 amid better rural and urban demand
FMCG sales volume grew 6.4% in Oct-Dec 2022 quarter with uptick in rural and urban consumption
However, rural distress continues as indicated by 40 crore additional persondays generated under MNREGS in 2023-24