Foreign automakers' hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
Carmakers that saw nearly a decade of Indian sales growth wiped out in 2020 are expecting a bounce back in demand this year. But it is likely to be led by small, affordable cars - a sector dominated by homegrown leader Maruti Suzuki and rival Hyundai - rather than the premium models churned out by most foreign manufacturers, industry executives and analysts say.
With their Indian factories running well below capacity and sales far behind original hopes, firms like Ford, Honda
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First Published: Jun 18 2021 | 2:06 PM IST