OTO’s Shares Two-Wheeler Trends Data

Utkarsh Agarwal Jun 04, 2022

Started in 2018, two-wheeler financing startup, OTO has shared its first annual two-wheeler trends data.

The data decodes the top consumer performance, categories driving demand and adoption of two-wheelers and financing in India. It also highlights how the consumers' behaviour is changing while adopting a two-wheeler and that we are seeing enhanced digital penetration in the market today.

Two-Wheeler Trends

1) Bengaluru is the top tier I city that witnesses a high demand for two-wheelers and financing.

2) Taking the second spot on the list is the city of pearls, Hyderabad

3) Mumbai, Delhi and Pune are the other top cities driving the two-wheeler financing demand.

4) Amongst the tier-II cities, Indore has emerged as the top driver for two-wheelers and financing.

5) Most of the customers adopting the two-wheelers and via financing are in the 24-35 years age group.

6) Two-wheelers and financing has emerged as the preferred option amongst the middle-income range working professionals.

7) 2/3rd of consumers have switched to electric vehicles (EVs) owing to increasing fuel prices and 1/4th due to the low cost of maintenance.

8) 76 percent of automotive sales were of scooters, compared to 24 percent of bikes in the last financial year, amongst which, 34 percent were electric vehicles (EVs) and 42 percent were ICE vehicles.

9) EV sales of two-wheelers increased by 19X in the last year.

10) The most preferred brands selling through OTO remain Honda and TVS both on online and offline channels.

Other noteworthy report findings include:

a) 33 percent of two-wheelers sold were premium bikes with an average range of Rs. 1.5 lakh.

b) 82 percent of consumers opted for the financing option available at OTO, while 18 percent preferred to buy two-wheelers via OTO without the financing option.

c) 23 percent of consumers opted for the resale of their two-wheelers through the convenient options available at OTO when tenure ends and 60 percent expect to extend the tenure to pay and own the two-wheeler.