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Automotive Product Finder Magazine | Omicron may affect demand for vehicles in India: Acuite

Omicron may affect demand for vehicles in India: Acuite

Electric vehicle sales in India grows to 240% in December 2021
Leading Chinese EV maker selects BorgWarner for sourcing eMotors

News  /   January

New Delhi

The reimposition of restrictions due to the rise in Covid cases is expected to impact demand for automobiles, especially for passenger vehicles and two-wheeler, according to ratings agency Acuite.

The domestic sales recorded a contraction of 7 per cent YoY during December 2021 driven by persistent global shortage of semiconductors and a longer waiting period for many models, as per the ratings agency. On sequential basis too, sales declined marginally, thereby highlighting weakness in demand.

The shortage of semiconductors may continue to disrupt passenger vehicle production and despatches over the next few months. For two-wheelers, Acuite said it expects a recovery in sales in the near term due to the seasonal rise in farm incomes. However, the fresh rise in Covid cases triggered by the emergence of new variant Omicron across the country may delay the revival. For commercial vehicles, it is bullish as infrastructure creation and construction activities are gaining momentum in the core sectors. Outlook for the CV segment is positive for the medium term.

Source: ET Auto.com

Also Read:

https://www.automotiveproductsfinder.com/news/daimler--byd-tie-up-for-auto-venture-denza/135167

https://www.automotiveproductsfinder.com/news/biden-takes-step-to-control-fuel-related-climate-change/135159

 

Tags Cloud
  • Reimposition
  • Restrictions
  • Covid Cases
  • Demand
  • Automobiles
  • Passenger Vehicles
  • Two-Wheeler
  • Ratings Agency
  • Acuite
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