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.

Around 10 million less vehicles were produced in 2021 as a result of supply chain issues, market intelligence group LMC Automotive has revealed.

India Ratings and Research (Ind-Ra) November 2021 report highlights the trends in the sub-segments of the auto sector, including passenger vehicles (PVs) and two/three-wheelers (2W/3Ws), focussing on sales volumes growth.

With the ripple down effect of declining automobile sales, the forging industry is facing the heat with a sharp decline in demand.

The ongoing chip shortage is likely to moderate passenger vehicle sales growth to 11-13% this fiscal, down from the earlier volume growth forecast of 16-17 per cent, delaying the industry recovery as the waiting period is increasing amid strong demand due to production curbs, says a Crisil report.

Teaming with its battery partner, SK Innovation of South Korea, Ford said that it will spend $5.6 billion in Stanton, Tennessee, where it will build a factory to produce electric F-Series pickups.

In a unique collaborative initiative between the government, industry, and academia towards advancing road safety, Project iRASTE was launched in Nagpur.

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.

The CII President said that the Indian auto ancillary industry should expand its export list and reach at least 5% of global components trade by 2026. He shared his views at the 61st annual session of ACMA.