The number of two- and three-wheeled vehicles in the world was projected to reach 292.4 million by the end of 2022. The majority of these are found in India and China. Nonetheless, sales have increased significantly in African nations. There are also a lot of two- and three-wheelers in Vietnam and Indonesia.

One percent of the 13.6 million two- and three-wheel vehicles sold in India in 2021 were electrified. Five percent of the 15 million sold in 2022 were electric. Twenty-one million cars were sold in 2019 before the pandemic, but very few of them would have had an electric motor. The Indian government thinks it has the proper policies in place to keep the growth going in 2023, starting at 5%.

By the end of 2022, there will be almost two million newly registered electric motorcycles in Vietnam, which makes up 2.7% of all motorcycles in the country, according to Traffic Police statistics. Compared to 2021, the sales of electric motorcycles rose by 30 to 35 percent in 2022.

“Despite EV penetration reaching 10% in 2021 and promising to climb higher as battery prices continue to fall and demand continues to rise, neither Honda nor Yamaha have an electric 2-wheel vehicle on the Vietnamese market. One of the main factors in this market and one that is probably going to be repeated in the 4-wheel EV market is the inability of established manufacturers to adjust to shifting market dynamics.

List of Top 5 Automobile – 2 & 3 Wheelers in India (BSE) based on Net Profit.

Company Name Net Profit (Rs. cr)
Bajaj Auto 5,627.60
Hero Motocorp 2,910.58
TVS Motor 1,491.03
Wardwizard Inno 9.44
Atul Auto 4.4
Source: BSE, India, last updated 24 February, 2024

This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:

2. Rameshbhai, A. T. (2023). Revolutionizing Profitability and Liquidity Analysis in India’s Auto Two and Three-Wheeler Industry: A Comprehensive Study of Hero Motocorp, Bajaj Auto and Tvs Motor. Journal of Social Commerce, 3(1), 10-17.
3. Bandyopadhyay, I. (2020). Impact of Globalization in Indian Market based on Productivity of Two-Wheelers and its Effect on Indian Two-Wheelers Manufacturing Industries.

Disclaimer: This news is for information and research purposes only. It is not intended for financial advice.
Declaration of competing interest: Publisher and owner of this web-portal hereby declare that there is no competing interest.

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