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Auto Sector: Continued sequential recovery seen in July, says Ind-Ra
TIWN
Auto Sector: Continued sequential recovery seen in July, says Ind-Ra
PHOTO : TIWN

New Delhi, Aug 21 (TIWN) Continued sequential recovery has been seen in the auto sector in July 2021, according to India Ratings and Research (Ind-Ra).

Ind-Ra believes that the 18 per cent sequential and 4 per cent year-on-year (YoY) increase in the domestic auto sales volumes in July 2021 was led by the continued easing of lockdown restrictions.

"Automotive dealerships have reopened in almost all parts of the country and consumer sentiments have improved on a steady decline in daily Covid cases. July 2021 volumes remained below pre-Covid levels (16 per cent below July 2019)," the rating agency said.

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