Pandemic no equaliser in auto sector, data show as demand recovery falters
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Sales of affordable motorcycles, which cost about ₹50,000, have been languishing since the onset of the pandemic and show little sign of recovery.
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An unequal recovery in demand for new vehicles across market segments throws some light on the disproportionate economic impact the Covid-19 pandemic has had on various strata of Indian society.
Sales of affordable motorcycles, which cost about ₹50,000, have been languishing since the onset of the pandemic and show little sign of recovery. At the other end of the spectrum, luxury cars costing ₹50 lakh and above have been flying off the shelves.
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Now that markets are opening up and pent-up demand is buoyant in some categories, the availability of casual workers will help them expand production capacities, the companies said. Most restarted or raised output earlier this month after voluntarily closing or cutting production for over a fortnight due to lack of demand and fewer workers.
Indias top consumer electronics, smartphone and auto companies are resuming or raising production this week more than a fortnight after they shut plants or scaled-down output for the domestic market as states ease curbs amid a decline in Covid infections.