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For auto firms, recovery from the second wave may not be as fast as in 2020

The second wave’s adverse impact on savings and income, and anticipation of a third wave are weighing on consumer sentiment

June 25, 2021 / 09:19 AM IST
For auto firms, recovery from the second wave may not be as fast as in 2020

As India came out of the first COVID-19 wave in 2020, the focus at Hero MotoCorp, the largest motorcycle manufacturer, was on production ramp-up. “We have been able to produce 30,000 (units) per day for 10 consecutive days. And that’s happening simply on the dealers’ own demand, because whatever we are producing is getting dispatched immediately,” Hero MotoCorp’s management told analysts in October 2020. The mood in the industry is not so optimistic this time. The second wave impeded sales in the first...

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