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CARE Ratings Research Report
The second Covid-19 wave had slammed brakes on the Indian automobile industry in the first quarter of FY22.
As India exits the second Covid-19 wave, the automobile sales volumes in July 2021 signify a bounce back in the industry.
The domestic wholesale volumes in July 2021 have been surpassed by a wide margin compared on a YoY as well on a sequential basis.
When compared with the previous month, factory dispatches of passenger vehicles and two wheelers grew 14.2% and 18.8% in July 2021, while three wheeler volumes have nearly doubled.
Tractor sales were lower by 40.9% due to the seasonality factor at play.
The cumulative sales of five players in the commercial vehicles industry grew 28.9% over previous month.
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