Two-wheeler sales tank in March, casting a gloom on FY20 forecasts
The sharp drop in two-wheeler sales in March signals production and dispatch cuts in order to rationalize inventory levels
A quick rebound in two-wheeler sales is unlikely as well due to ABS and BS-VI emission norms kicking in from 1 April 2020
Hopes of demand recovery in two-wheelers crashed after manufacturers put up a dismal show in March. Worse, this warrants an earnings cut for FY19. It also paints a gloomy sales growth picture for FY20.
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