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KRChoksey Research Report
The auto sector should see robust revenue growth in Q1 FY22 led by strong volume growth, recovery in overall demand, and low base effect owing to economic slowdown, however, we expect sequential decline due to state-specific lockdowns.
After months-long factory closures, lay-offs and slump in car sales during April and May, the fall in vehicle sales were significant in Q1 FY22 sequentially, however, the performance differed across segment.
Rural and semi-urban demand remained robust supported by higher Kharif crop, better cash flows and good Rabi sowing that ultimately drove strong demand for tractors, two-wheelers, and entry level cars.
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