Cars stored in a parking lot in California, U.S. Photographer: Bing Guan/Bloomberg
Indian automakers shipped more vehicles from their factories this festive period than last year, hoping for a recovery from the pandemic, but retail demand fell short of expectations.“While there is demand but not much year-on-year growth. We expected single-digit growth, and it’s on the same lines,” Ashish Modani, vice president and co-head of corporate ratings at ICRA Ltd., said over the phone. The double-digit growth that original...