A massive fire broke out on Friday night at the Cantonment railway station vehicle parking, leading to the destruction of 203 two-wheelers. A joint team comprising the GRP, RPF, Railways, and Sigra Police has initiated an investigation into the incident.
Coming as a positive signal for the rural two-wheeler (2W) market, a recent report said there has been a recovery in the two-wheeler segment in the first half (H1) of 2024.
The two-wheeler giant’s revenue during the quarter jumped 16 per cent to Rs 11,932 crore compared to the same period of 2023-24 on the back of robust vehicle sales and record spares revenue.
Two-wheeler industry is expected to sustain a steady volume growth rate of around 7 to 9 per cent in FY25, considering both domestic and export markets, a new report said on Monday.
Accordingly, the sequential improvement is expected to sustain in February 2022, supported by a gradual easing of the supply-side constraints, re-opening of offices and colleges, as well as relaxation in travel restrictions and the measures announced in the FY23 Union Budget.
Notably, the domestic automobile industry's sales volumes (excluding CVs) grew 10 per cent YoY in February 2021, recording positive growth for the seventh consecutive month.
