 "A bumpy ride for automakers: Festive season hasn’t seen strong pick-up")
The auto industry is an excellent indicator of economic health. When auto sales are strong, consumption demand is strong. The supply chain absorbs primary metals and rubber, and also sophisticated composites and electronics. The industry also generates services activity. Hire purchase is the largest component of retail financing, and the industry contributes volumes to maintenance and repair as well as marketing and advertising.
India’s auto-industry has been in the doldrums for years. It wasn’t doing well prior to Covid. It has taken a beating in the last six quarters. Apart from slow demand, there have been supply-chain disruptions, especially because of
