Comeback kid: Motown gets back on track in FY2021

Comeback kid: Motown gets back on track in FY2021

(This story originally appeared in on Apr 02, 2021)

NEW DELHI: The auto industry made quite a turnaround in fiscal year 2020-21 despite being hit by the pandemic and battling severe parts and component crunch. A late recovery towards the second half of the fiscal saw car, SUV and two-wheeler sales stage a remarkable comeback, even though full-year numbers ended in the red for all companies but .

The heightened demand for personal mobility amid fears around the spread of the virus saw an almost V-shaped recovery as companies scrambled to keep pace with retail. There is already a waiting across many vehicles and variants, and the shortage of parts — led by issues such as semiconductor crunch — has only exacerbated the situation.

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Companies say that order book remains healthy and the coming months are expected to be strong. For the full-year though, numbers remain negative as companies lost almost three months due to the Covid-induced lockdown that came into force around March-end last year (sales were ‘zero’ across the industry in April). Subsequent lockdowns and strict restrictions on the movement of goods and parts and even security protocols around retail showrooms had impacted business.

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