Recovery momentum in automotive sector to decelerate: ICRA
The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent
Sumant Banerji | May 20, 2021 | Updated 16:45 IST
COVID-19 second wave to take toll on auto industry
KEY HIGHLIGHTS:
Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18%
Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier
Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021