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Nirmal Bang Report
Automobile original equipment manufacturers have reported a sharp decline in month-on-month volume across all the segments for April 2021 due to muted demand amid:
Subdued consumer sentiments on rising Covid-19 cases.
Temporary shutdown of dealerships due to lockdown restrictions.
Sharp fall in enquiries as customers postpone their purchases.
Supply chain constraints due to localized restrictions and shortage of semiconductors.
While tractor and passenger vehicles volumes were better than our estimates, volumes were below our estimates for commercial vehicle and two-wheeler OEMs.
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