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ICICI Direct Report
The auto industry saw a decent recovery in June 2021, with resilience of the rural belt (tractor, etc) being the key takeaway for the month.
Passenger Vehicle segment also did relatively well while M&HCV space turned in a disappointing performance.
With comparison redundant at year-on-year level (gradual pick-up post nationwide unlock), month-on-month level (washout month due to Covid-19 second wave), we examine trends versus April 2021, last month of normal sales.
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