|COVID-19 Impact Assessment, Recovery Road, and Growth Opportunities for the Global Two-wheeler Industry, 2019–2025|
|Transformational growth of 2W sales will ensure an aggressive rebound at 17.5%, by 2021|
COVID-19 has brought the two-wheeler industry to a screeching halt. Governments across the world were forced to institute lockdowns on commercial and personal life for nearly two months. The automotive industry took the biggest hit as the global supply chain had to come to a halt. With customers not purchasing new vehicles, the two-wheeler (2W) industry suffered the biggest blow to business.
Asian countries constitute the largest markets for 2Ws, especially India, China, Vietnam, Indonesia, and Thailand. Before the COVID-19 crisis, new 2Ws were being sold at the rate of nearly 20 million a year, or 10 million every 6 months. However, in the first six months of 2020, this number was estimated to reduce to 40% or approximately 4 million 2Ws, if the supply chain were to open at all. European and North American markets did not suffer much, as not all retailers had closed, and traditional sales volume had never been as large as that of Asia. However, with global economies beginning to open up, the 2W industry is set to see the release of pent-up demand and a surge in sales.