Market

Auto sales start moving as country opens up

(This story originally appeared in on Jul 02, 2021)

NEW DELHI: With Covid cases coming down and lockdown getting lifted in many states, the auto industry started to get traction, with companies such as , Hyundai and Hero Moto regaining volumes. Maruti, the biggest carmaker, said its passenger vehicle sales in the domestic market stood at 1.24 lakh units in June, against 51,274 units in the same month last year.

Just like the first quarter of 2020-21, the same period of this fiscal was also hit by lockdowns over safety precautions. Some of the restrictions were taken away in June as the country started re-opening.

Hyundai sold 40,496 units in June, and said consumer sentiment remains positive.

sold 24,110 units, while sold 16,913 units.

“With the opening up of the market in a phased manner, we are seeing a boost in demand in both urban and rural areas and we expect the upward trend in demand to continue across all segments and markets. As we come out of the second wave of the pandemic, by and large, our supply chain has stabilised except for the global semiconductor issue, which still continues to be a challenge that we are addressing as top priority,” said M&M Automotive CEO Veejay Nakra.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button