Given the added advantages such as quick transportation, navigation through traffic, parking facilities, ease of maintenance, and lightweight, two-wheelers rank higher than other modes of transportation. Due to the price range offered, two-wheelers are now considered a necessity across all classes of society. The picture has become more interesting since the entrance of electric vehicles in the two-wheeler segment.
How is the two-wheeler market performing in India?
Two wheeler loans are complementary goods for two wheelers. An increase in demand for two-wheelers increases the need for two wheeler loans. Of course, a decrease in two wheeler loan interest rates can increase the demand for two-wheelers. But primarily, loans are dependent on the product.
As per a report by TechSci Research, the expected growth in India’s two-wheeler loan market is projected at $12.30 billion by 2025 compared to $7.2 billion as a previous estimate ending 2020. This reflects a CAGR of …