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The second wave of the Covid-19 pandemic is having a massive impact across India. While the first wave last year was somewhat limited to urban regions, this time around it has affected the rural markets as well. This spells bad news for the domestic auto industry, which depends on rural sales to buffer slackening demand in urban India.
Car and SUV sales have seen a MoM decline of 25.33 percent in April
Bike and scooter sales dropped by 27.63 percent MoM in April
Lockdowns in various states has resulted in lean sales in May so far
As per the latest data shared by the Federation of Automobile Dealers Association (FADA), the overall sales in April were 11,85,374 units a decline of 28 percent over the month of March. Interestingly, tractor sales which have for long shown resilience too have seen a double-digit decline.