January 23, 2021

two-wheeler: Gross sales again to 80-90% of pre-COVID ranges, upward development to proceed in festive season: CredR

Mumbai: Used two-wheeler market CredR on Monday mentioned its gross sales have recovered to 80-90 per cent of pre-COVID ranges and it expects the upward development to proceed through the competition season.

The corporate is quickly scaling up its provide chain to construct stock in any respect its showrooms and expects demand within the entry-level and mid-price used two-wheeler segments to stay sturdy, it mentioned in a launch.

“We’re virtually again to 80-90 per cent of pre-COVID ranges so far as gross sales is worried. Whereas we noticed enormous pent-up demand after the lockdown was relaxed, tendencies now depict that the festive season will proceed with this upward development,” CredR Chief Technique Officer Sasidhar Nandigam mentioned.

The festive season is essential for the corporate since gross sales through the interval account for a considerable chunk within the total volumes, CredR mentioned.

The corporate mentioned it has taken a number of customer-centric initiatives in the previous few months akin to launching doorstep supply of autos, assured 12 month buyback, prolonged 12 month guarantee on engine and gearbox, amongst others.

Stating that worth added companies and profitable festive pricing can be main drivers for gross sales push within the upcoming festive months, Nandigam mentioned, “We’re gearing up for festive season, and we imagine that the used two-wheeler market is perched for a fantastic run this season.”

CredR is witnessing a pointy demand upswing within the rural and semi-urban markets following improved crop manufacturing and monsoon season, it mentioned.

As cities are actually totally unlocked, many commuters need to spend money on non-public mobility through the festive season and the corporate expects demand revival within the city markets.