New
Delhi
The auto industry is back in recovery mode
after experiencing troubling times in the month of April and May, according to
the data generated by FADA.
FADA also
pointed out that the demand for passenger vehicles has seen a tremendous rise.
According to the data, the demand rose by 43.45% as compared to figures from
the same month in 2020. According to Vinkesh Gulati, President, FADA, in the
month of June, majorly all the states have reopened except for the ones in
southern India.
As per the
report, the two-wheeler segment saw a softer revival. This is due to a more
gradual recovery demand from rural markets that have emerged out of the Covid
situation. On the other hand, other segments like three wheelers and commercial
vehicles are emerging stronger.
According to the
official statement given by FADA, this positive momentum from June will be
carried forward towards July. As the states in southern India will open again,
there will be a further pickup in the demand. On a broader term, the auto
industry is yet to see good numbers as compared to that of 2019. It is also
expected that the festive and wedding season might further boost the sales in
the auto industry even if there is still a hidden
threat that the third wave of Covid-19 might hit the country.
Source – The Hindustan Times
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