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.

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.

India Ratings and Research (Ind-Ra) expects tractor sales volumes to grow in low-mid single digits of 3%-6% yoy in FY22, mainly on a higher base following the 27% yoy growth witnessed in FY21.

The second covid wave has stalled the auto industry’s momentum recorded in 3Q-4QFY21, according to a recent report published by India Ratings and Research (Ind-Ra).

In FY20, the industry sales experienced a sharp decline of 14.8 per cent y-o-y vis-à-vis a growth of about 6.4 per cent during FY19 led by factors such as increased insurance costs, uneven monsoon, high ownership costs, curtailed lending by the NBFC segment,etc.

Company’s Indian offices are shut as a measure to tackle virus while launches have been shifted to Q1 2021.

According to India Ratings and Research (Ind-Ra), domestic automobile sales volume fell 19 per cent YoY (Year on Year) in February 2020, on lower consumer sentiments as original equipment manufacturers (OEM) continued the regulated wholesale billing to grapple with the effects of switching to Bharat Stage (BS) VI vehicles amid a low demand.

India Ratings and Research, a Fitch Group Company has revised its outlook on the auto sector to negative for FY21 from stable, on the expectation of weak sales amid macroeconomic headwinds,etc.

India Ratings and Research has also maintained a negative outlook on its rated portfolio for FY21