Overall production for the month could be down to 1.35-1.40 million units.
This month, 2-wheeler makers are expected to cut production by 20-35% compared to October 2021.
The festive season failed to bring cheer as demand was weak, and with dealerships sitting on huge inventories, manufacturers have been forced to tweak their production schedules.
The industry output for the month of November is estimated to be the lowest since 2012. Reports suggest overall production could be down to 1.35-1.40 million units. The situation may continue in December, causing the 2-wheeler market to shrink in FY2022.
Hero MotoCorp registered a low double-digit decline in sales during the festive season. However, the company expects demand to pick up during the upcoming wedding season.
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