Automobile sales boom, third wave may be deterrent: FADA
The Hindu
Domestic automobile retail sales witnessed a strong comeback in July this year with positive growth across all vehicle categories, Federation of Automobile Dealers Associations (FADA) said on Monday.
Domestic automobile retail sales witnessed a strong comeback in July this year with positive growth across all vehicle categories, Federation of Automobile Dealers Associations (FADA) said on Monday. However, the industry body cautioned that semiconductor shortage and possibility of third wave of the pandemic continue to remain a threat for the recovery of the sector. Retail sales saw a year-on-year growth of 34% to over 15.56 lakh units last month which saw opening of dealerships across the country amid easing of COVID-led restrictions. FADA noted that even when compared to July 2019, a regular pre-covid month, “recovery is visible as the deficit reduced to low double digits of -13.22%”.
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