city New Delhi India Government city New Delhi India

Auto sales may dip by up to 25% in FY21, sharpest decline in 2-decade: Ind-Ra

Reading now: 805
www.livemint.com

NEW DELHI : The automobile sales may decline by up to 25% in this financial year as compared to 2019-20 due to a complete washout in April and minuscule sales last month, according to rating agency Ind-Ra.The decline (excluding in tractors) would be the steepest in the last two decades, much higher than that recorded during the global recession in 2008-09, and is likely to push industry volumes to the 2011-12 levels, Ind-Ra said in a statement.The two-wheeler segment is expected to rebound faster, followed by passenger vehicles (PVs), while the decline in medium and heavy commercial vehicles (MHCV) is likely to be the steepest during 2020-21, it added.The rating agency expects two-wheeler sales to decline by 20-22%, PV by 22-26%, light.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA