Auto Volumes Check - Pandemic Results In Washout Month: ICICI Direct
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ICICI Direct Report
May 2021 was a washout month for the domestic auto industry, with the sharp spike in Covid-19 cases taking a toll on economic activity amid localised lockdowns pan India.
Plant shutdowns undertaken by original equipment manufacturers along with supply chain challenges (particularly in relation to global semiconductor shortage) and only partial functioning of dealerships combined to result in a steep double-digit sequential decline across players and segments.
It is worthwhile to note, however, that month-on-month comparison is not entirely meaningful on account of the difficult circumstances.
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