Automobile Sales May Plunge by at Least 20 Percent This Fiscal: Ind-Ra

Rating agency Ind-Ra expects automobile sales to decline by 20-25 per cent this fiscal against its earlier forecast of 22-25 per cent on account of increasing preference for personal mobility and an expected demand rebound from rural and semi-urban markets. At the same time, the rating agency has maintained a negative outlook for the auto sector for the second half of the fiscal, owing to continued weak consumer sentiments and macroeconomic headwinds amid the disruptions caused by the pandemic, Ind-Ra said in a release. The latest forecast is marginally better than the earlier forecast of 22-25 per cent Y-o-Y decline in sales volume in FY2021, released in June this year, Ind-Ra said. Favourable regulatory changes such as GST cuts or incentive-based scrappage policy could help demand revival in the medium-term, the ratings agency said. It, however, warned that any significant spread of the virus to rural India could affect the

Read More

Read More

Automobile sales may fall 20-25% this fiscal: Ind-Ra

MUMBAI: Rating agency Ind-Ra expects automobile sales to decline by 20-25 per cent this fiscal against its earlier forecast of 22-25 per cent on account of increasing preference for personal mobility and an expected demand rebound from rural and semi-urban markets.
At the same time, the rating agency has maintained a negative outlook for the auto sector for the second half of the fiscal, owing to continued weak consumer sentiments and macroeconomic headwinds amid the disruptions caused by the pandemic, Ind-Ra said in a release.
The latest forecast is marginally better than the earlier forecast of 22-25 per cent Y-o-Y decline in sales volume in FY2021, released in June this year, Ind-Ra said.
Favourable regulatory changes such as GST cuts or incentive-based scrappage policy could help demand revival in the medium-term, the ratings agency said. It, however, warned that any significant spread of the virus to rural India could affect
Read More

Read More

Automobile sales may fall 20-25 pc this fiscal: Ind-Ra

Rating agency Ind-Ra expects automobile sales to decline by 20-25 per cent this fiscal against its earlier forecast of 22-25 per cent on account of increasing preference for personal mobility and an expected demand rebound from rural and semi-urban markets.

  At the same time, the rating agency has maintained a negative outlook for the auto sector for the second half of the fiscal, owing to continued weak consumer sentiments and macroeconomic headwinds amid the disruptions caused by the pandemic, Ind-Ra said in a release.

       The latest forecast is marginally better than the earlier forecast of 22-25 per cent Y-o-Y decline in sales volume in FY2021, released in June this year, Ind-Ra said.

 Favourable regulatory changes such as GST cuts or incentive-based scrappage policy could help demand revival in the medium-term, the ratings agency said.

 It, however, warned that any significant spread of the virus to rural India could affect the

Read More

Read More