Thursday, December 1, 2022
News

Omicron-led curbs to impact demand for passenger vehicles, two-wheelers: Acuite

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Wednesday, 2022 5:15:07 AM IST
The reimposition of restrictions due to the rise in Covid cases is expected to impact demand for automobiles, especially for passenger vehicles and two-wheeler, ratings agency Acuite said on Tuesday.

"The domestic sales recorded a contraction of 7 per cent YoY during December 2021 driven by persistent global shortage of semiconductors and a longer waiting period for many models," the ratings agency said.

On sequential basis too, sales declined marginally, thereby highlighting weakness in demand.

The shortage of semiconductors may continue to disrupt passenger vehicle production and despatches over the next few months.

For two-wheelers, Acuite said it expects a recovery in sales in the near term due to the seasonal rise in farm incomes. However, the fresh rise in Covid cases triggered by the emergence of new variant Omicron across the country may delay the revival.

For commercial vehicles, it is bullish as infrastructure creation and construction activities are gaining momentum in the core sectors. Outlook for the CV segment is positive for the medium term.

--IANS ad/arm

( 183 Words)

2022-01-04-23:14:01 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
US-headquartered Grid Dynamics opens its...
Dubai Visa Apply Online by VisitsVisa.co...
Quintillion Business Media launches BQ P...
Aluminium extrusions and the country's g...
For seamless travel, govt to launch faci...
Sanjay Malhotra takes charge as revenue ...
More...
 
INDIA WORLD ASIA
Govt directs telecom providers to not in...
Assam police instructed not to fire upon...
Gujarat Elections: PM Modi to hold 50 km...
Nadda to visit Jaipur today, flag off BJ...
Voting begins for first phase across 89 ...
Noble deed: Delhi witnesses increase in ...
More...    
 
 Top Stories
Mammoth DNA found in sediments like... 
Pro Tennis League Season 4 is T20 o... 
Jagriti Yatra 2022 onboards Zoho Co... 
Manoj Bajpayee's hit song 'Sapne Me... 
Research: Existing drug could reduc... 
Nagaland's Hornbill Festival begins... 
V-P Jagdeep Dhankhar meets Nagaland... 
Punjab: 2 held with cache of arms i...