Two-wheeler demand likely to bounce back next quarter, says Piaggio MD
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“If markets progressively open from June, we expect demand will pick up and we will be able to realise the set annual volumes,” Diego Graffi, managing director at Piaggio Vehicles, told ET. The company, which recorded good traction for its two-wheelers in the quarter ended March, is targeting sales of 100,000 units in the local market in 2021.
Agencies
The company, which recorded good traction for its two-wheelers in the quarter ended March, is targeting sales of 100,000 units in the local market in 2021.
Piaggio Vehicles, maker of Aprilia and Vespa scooters, expects demand for two-wheelers to recover after the current quarter once localised lockdowns imposed by state governments to check the spread of Covid-19 are eased.
While the domestic steel demand is expected to take some hit due to the ongoing second Covid-19 wave, production of the commodity is also expected to align itself to the consumption pattern as players divert oxygen from its plants to meet the urgent medical requirement of various states. “Steel production is bound get impacted since the oxygen used in the making of steel is getting diverted for medical usage but life cannot have less priority with rest to production,” said a source with AM/NS India on condition of anonymity. AM/NS India is supplying about 200 tonne of oxygen daily for medical usage for covid patients.
Read more about Covid-19 pandemic washes out 6 years of growth in auto sales: SIAM data on Business Standard. The decadal growth in the auto industry has now slowed from 12.8 per cent to 1.8 per cent, indicating there is a lot more to the slowdown
New Delhi [India], April 12 (ANI): The automobile industry saw a de-growth of 13.69 per cent in March with 18.6 crore units including passenger cars, commercial vehicle and two wheelers in March as against 21.5 crore units sold in the year-ago period.
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