two-wheelers, two-wheelers industry, bike rental, bike on rent, two-wheelers for rent, electric mobility
According to Harshit Sonthalia, the founder of Ontrack in 2016-17 due to demonetization and ban on BS-III vehicle sale he expected the growth in the two-wheeler auto sector would slow down. However, there were newer upcoming and dominating trends that impacted the two-wheeler sector in an extremely positive way. In fact in one of the latest reports online in February 2018, the two-wheeler industry recorded an impressive growth.
Scooter segment revived
Scooters returned in 2000 post their disastrous decline. This segment has dramatically risen from this phoenix state. It was post Activa’s launch that scooter segment started recovering. However, it only reached its peak after continuous innovation in technology, inducting electronics, improvement in power and mileage, design and manageable weight.
Higher demand for premium segment bikes
As per the online sources, the sale for the premium segment increased in the last few years – from only 4.3 lakh units in 2011-12, it increased to 1.4 million units. It has soon become the fastest growing segment in the market. This is the outcome of higher disposable income and mounting aspirations. The segment’s demand continues to be on the rise. In 2017, even Hero perceived the premium segment as a priority and soon they started to work towards introducing high-powered, off-road motorcycle.
Innovation is key to success and we see innovative solutions driving aspirational sales in the two-wheeler industry as well. From the smallest invention of adding a charging point to the bike so that the consumers can charge their phone to the biggest ones like i3S technology introduced by brands like Hero MotoCorp. Globally, we have witnessed a decent level of growth in electric two-wheelers in the auto industry. This segment’s further progress will be enhanced by brands like Hero, Yamaha, Honda, and TVS who are looking at launching electric two wheelers in India this year.
Igniting the ‘rent’ culture
Segmentation and innovation has brought about the ‘trending’ changes. However, culturally, rent as a concept has taken off quite dramatically in India. Though the bill for introduction of bike rentals was passed in 1997 itself. In the last couple of years we have seen a tremendous growth in this sector, especially in the metro cities.
Harshit, Founder of Ontrack, remarks, “Renting bikes is the most trendy and affordable alternative to commute in cities like Bangalore today. It provides financial freedom to the users and they aren’t dependent on anyone for their transportation. The desire for ‘independence’ is creating a powerful rental community “ He humorously comments, “If only we could rent out brains. I think we could all use Einstein’s for a while.”
Ontrack, a monthly bike rental company, is introducing the most creative solutions to transform everyday commuting. It is directly impacting and changing the economic model of our transport system.
Company’s Boilerplate / About Us: Headquartered in Bangalore, India, Ontrack offers a wide selection of two wheelers for rent including Honda Activa, Honda Dio, Aprilia 125 with accolades in Bangalore and Hyderabad.
Jan 3, 2018 - Ontrack Technologies Pvt. Ltd., operating Ontrack bike rental, is an Indian online two wheeler transportation network company. It was founded as an online bike rental aggregator in Bangalore and expended in Hyderabad and planning to expand in many more cities in India.
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