Ind-Ra has maintained an improving outlook for the auto ancillary sector and maintained a stable outlook on its rated portfolio for the second half of FY22. Credit metrics are likely to improve in FY22.

Ind-Ra revised auto volumes growth forecast to 12%-16% YoY from the initial forecast of 16%-20% YoY. The downward revision is due to a revision in the growth forecasts for 2Ws and PVs.

OEMs are struggling to supply adequate vehicles to dealers. FADA’s outlook remains a mixed bag with PVs witnessing demand-supply mismatch and the 2W segment facing a demand crunch.

Some of the prominent automobile companies of India published the data related to their Aug sales for the current and last year.

Toyota Kirloskar Motor was awarded by Confederation of Indian Industry (CII) Southern Region for its outstanding contribution in Water and hazardous Waste management.

Ind-Ra expects volume growth to continue in August 2021, driven by improving consumer sentiments and the onset of festive season. It feels the semiconductor shortage could pose supply-side challenges.

Easing COVID-19 restrictions and opening dealerships led to robust sales in all vehicle segments. FADA shared a business outlook that demand and enquiry levels will continue to improve in all sectors.

This investment was collectively done by e2W, e4W, EV component makers, eCVs and last-mile delivery companies. Of the investments, 32% was by eCVs, 28% by e4W, 23% by e2W and 19% by EV component makers.

Cell Propulsion inaugurated its pilot production plant in Bengaluru for the manufacturing, assembly and testing of Li-ion battery packs in July this year.