Covid-19 hit Auto sector make the change to 2021 with cautious optimism
It is estimated that during the prolonged lockdown, the auto industry suffered losses of more than Rs 2,300 crore in turnover for every single day of closure
PTI | December 20, 2020 | Updated 14:01 IST
Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world (Photo- PTI)
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows.
Abhishek Muralidharan and Noel D cunha look at the packaging trends in India and how the industry is trying to cope with the pandemic blues
Kirit Modi of Indian Corrugated Case Manufacturers Association (ICCMA) cautioned the delegates during a webinar by saying, China is the X factor in 2021. His rationale, China is the largest consumer and importer of containerboard in the world; it is the largest exporter of manufactured goods, which need packaging. Modi is quite right. China is the first nation to recover from the virus impact and notch a positive GDP. How 2021 unfolds for the corrugation industry (and indeed packaging) will depend on this X factor.
Italian bike brand Benelli revs up for a revamped ride in India
Starting January, Benelli intends to launch one product every month till August. The company will also open more than one dealership per week till the end of March. This will take the total dealership count to 50 from 34 now, with most coming up in Tier-2 and Tier 3 locations. December 18, 2020 / 10:06 AM IST
With just one product in its arsenal, Italian bike brand Benelli and its dealers faced the full impact of the lockdown. Plans to add more products to the line coupled with a dealership expansion went haywire amid the total shutdown.
Hike in Automotive Prices Could Dim Prospects For Demand Recovery After December: Fitch Ratings
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Indian automakers plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday.
Accordingly, the ratings agency said pent-up demand after the gradual easing in the government s lockdown measures helped India s monthly wholesale volume of passenger vehicles (PV) return to growth after July 2020.
The data from Society of Indian Automobile Manufacturers (SIAM) showed PV wholesale volumes rising by 13 per cent on a YoY basis in the quarter ended September 2020.
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