Two-Wheeler Sales to Hit 29 Million by FY27; Exports Outpace Domestic Market: CRISIL

• India's two-wheeler industry projected to grow 7-9% by FY27, reaching 29 million units.
• Domestic market stable due to improved affordability from GST rationalization; exports to outpace home market for third consecutive year.
• Revenue growth driven by volume and premiumization, sustaining operating margins despite elevated commodity costs.
• Motorcycle sales see strong recovery post-GST, with demand shifting towards 150-350cc models.
• Exports to remain a strong growth driver, with 21-23% rise this fiscal and sustained mid-to-high teen growth in FY27.