The third Covid wave along with microchip shortage leading to lower production and elongated waiting periods dented January 2022 sales of key automobile players."On account of Covid-19, sluggish rural sentiments due to crop loss because of .
The contraction will mainly be due to an impact of relentless increase in two-wheeler prices and record high petrol cost, among others, argues the ratings agency.
India s two-wheeler sales are expected to contract by 1-4 per cent year-on-year (YoY) in FY22 due to weak festive season performance, ICRA said on Monday.