Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Auto sector to record sharpest decline in two decades: Ind-Ra

Post News Network
Updated: June 9th, 2020, 21:30 IST
in Business
0
Automobile, Car, Interest rate, Business

Representational image (REUTERS)

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi:  The automobile sales may decline by up to 25 per cent in this financial year as compared to 2019-20 due to a complete washout in April and minuscule sales last month, according to rating agency Ind-Ra.

The decline (excluding in tractors) would be the steepest in the last two decades, much higher than that recorded during the global recession in 2008-09, and is likely to push industry volumes to the 2011-12 levels, Ind-Ra said in a statement.

Also Read

Karoline Leavitt

Trump imposed sanctions on India to end Russia-Ukraine war: White House

2 hours ago
Representational Image

Online gaming Bill introduced in Lok Sabha; know about key provisions

2 hours ago

The two-wheeler segment is expected to rebound faster, followed by passenger vehicles (PVs), while the decline in medium and heavy commercial vehicles (MHCV) is likely to be the steepest during 2020-21, it added.

The rating agency expects two-wheeler sales to decline by 20-22 per cent, PV by 22-26 per cent, light commercial vehicle (LCV) by 26-30 per cent and MHCV by 35-45 per cent year-on-year in 2020-21.

Also, monthly sales volume may not return to the pre-COVID levels before mid-2021-22, Ind-Ra said.

“Volumes could increase by a high-single to a low double-digit rate in FY22, on account of pent-up demand; however, it is subject to an improvement in industrial production activities, favourable regulatory changes, increase in consumption levels and a macroeconomic recovery,” it added.

Ind-Ra noted that the rural sector is likely to drive sales growth in two-wheeler and tractor segments.

The strong rabi crop harvest in 2019-20, an expectation of normal monsoon this year and a good kharif harvest forecast, coupled with government incentives and less exposure to lockdown related economic hardships, will boost rural income, it noted.

“Hence, the decline in tractor sales volume is likely to be limited at 10-12 per cent year- on-year in 2020-21,” Ind-Ra said.

Exports could come under pressure while overall industry revenue is expected to decline by 17-20 per cent year-on-year in the current fiscal, it said.

(PTI)

Tags: Auto sectorInd-Ra
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019

Archives

Editorial

‘TACO’ Effect

August 20, 2025

It is interesting to note US President Donald Trump keeps changing his deadline for imposing new tariffs on goods from...

Read moreDetails

Plastic Threat

Plastic
August 19, 2025

More than 400 million tons of plastic are produced globally each year, half of which is for single-use items. Nearly...

Read moreDetails

Road To Peace?

Putin-Trump summit: India welcomes progress
August 18, 2025

US President Donald Trump and his Russian counterpart Vladimir Putin’s much-anticipated summit in Anchorage, Alaska, on 15 August was warm...

Read moreDetails

Freedom Under Siege

August 17, 2025

We celebrated Independence Day this month, the culmination of our freedom struggle. Independence and freedom from what? From alien rule...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST