India covid-19 consequences India

Passenger vehicle sales in Q1 likely to crash by over 80%: ICRA

Reading now: 751
www.livemint.com

Due to the repeated extension of lockdown measures sales during FY 21 will decline in the rage of 22% to 25% compared to 10-15% expected in the first phase of the lockdown, says ratings agency Sales of passenger vehicles could decline by more than 80% in the first quarter of FY 21 due to lock down measures to contain the spread of Covid-19, and drop in affordability of customers as result of the economic slowdown, according to credit ratings agency ICRA.

Credit profile of Original Equipment Manufacturers (OEMs) and dealers will also suffer significantly as consequence. Also, due to the repeated extension of lockdown measures, the ratings agency thinks sales during FY 21 will decline in the rage of 22% to 25% compared to 10-15% expected in

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