“The 2W category continues to play spoilsport as the entry level segment is yet to witness healthy growth.
In Mumbai, August registrations of home sales fell 32% to 6,635 deals compared to the previous month of July, after lower stamp duty sops were withdrawn.
The COVID-19 pandemic has further caused negative growth for the industry pushing volumes back by many years, SIAM President Kenichi Ayukawa said.
Developed and produced in India, Renault had commenced exports to Nepal earlier this month.
Stakeholders' meet soon to discuss growth plans for automobile industry, says Union Minister Prakash Javadekar
Ex-Mahindra and Mahindra MD Goenka also said the auto industry today in India is bruised as even before the pandemic, it was almost stagnant for five years.
Analysts have now started lowering the sector’s growth outlook for this fiscal over the low base of 2020-21 when total auto sales fell over 13 per cent year-on-year.
Industry welcomes the move, but doesn’t intend to bring forward original deadline for BS-6 vehicles