June auto sales show waning impact of COVID
After hitting a speed breaker in May due to the severe second wave of COVID-19 across the country, automobile demand across segments bounced back sharply in June
July 02, 2021 / 09:17 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
After hitting a speed breaker in May due to the severe second wave of Covid-19 across the country, automobile demand across segments bounced back sharply in June.
Since sales in June last year had been far from normal because of the national lockdown and related disruptions, a year-on-year comparison will not be very meaningful. However, on a month-on-month basis, we see the the numbers across segments have been encouraging and indicate a V-shaped recovery in demand.
Barring Mahindra and Mahindra (M&M),...