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6 charts explain India's motown revival
Summary
- Several factors combine to put the auto sector on a smooth path. However, some headwinds could spoil the prospects.
India’s “Motown" seems to be getting its mojo back. Sales volumes are recovering as the availability of semiconductor chips improves, companies announce new launches, and inventories build up ahead of the festival season. The sector is eyeing its best-ever growth for the festive period after a demand slump during the pandemic over the last two years. Further, with the softening of commodity prices, profit margins of companies are also expected to improve, spelling hope for the coming quarters. However, some headwinds could spoil the party. Demand is still below the pre-pandemic levels and erratic rains could weigh on rural demand.
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