‘Auto volumes likely to rise 12-16% this fiscal’

Auto volumes are expected to rise 12-16 per cent year-on-year this fiscal, as against the earlier estimate of 16-20 per cent, India Ratings Research (Ind-Ra) said in its latest auto outlook.

The growth estimate has been revised downward on account of a revision in the growth forecasts for two-wheelers (2Ws) and passenger vehicles (PVs), Ind-Ra said.

The two-wheeler segment is now expected to log 10-14 per cent growth compared to the initial projection of 16-20 per cent, and the PV volumes segment may rise 15-18 per cent from the earlier forecast of 18 -22 per cent, it stated. The growth forecast for commercial vehicles (CVs) is maintained at 20-25 per cent year-on-year, as per the report. The rating agency also said it has maintained an improving outlook for the auto sector for FY22, as the revival across segments is expected to continue in H2 FY22.

0

0