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SIAM numbers - Suman Chowdhury, President - Ratings at Acuité Ratings & Research Ltd

Posted On: 2020-03-14 13:35:52

"The sharp decline in yoy production of both CVs and PVs at 40.1% and 9.4% respectively in February 2020 reflects not only the expectations of weak demand in the near term but also the challenges in the supply chain for BS-VI vehicles brought about by the outbreak of the Corona Virus. If the supply chain disruption gets extended, there can be a significant impact on domestic sales of BS-VI vehicles in the first quarter of FY21. The marginal improvement in industrial production as evident from the IIP figures of January 2020 is clearly yet to be seen in CV demand since the latter sales have dropped by 32.9% on a yoy basis. What is however, encouraging is the healthy growth in exports in both the PV and the 2W (two wheeler) at 8.9% and 15.6% respectively despite the weak global economic environment."


Source: Equity Bulls

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