Amid Nationwide Unlock Auto Industry shows healthy recovery

Amid Nationwide Unlock Auto Industry shows healthy recovery

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Nationwide unlock has resulted in the healthy recovery of the auto industry. The automobile industry witnessed positive growth in the sales of the number of cars. According to analysts, the reason behind the increase in the sales of the car is pent up demand, healthy monsoon, and preference of personal vehicles over public transport. Maruti Suzuki, India’s largest automaker recorded a rise of 17.1 per cent on a year-on-year basis, in August 2020. The total sales of the company increased to 124,624 units from 106,413 units in 2019. Similarly, the Hyundai Motors sales rose by 19.9 per cent. Along with this, two wheeler sections has also witnessed a healthy growth rate, in which TVS motors achieved the sales growth of 14% in the month of August 2020 with 287,398 units as compared to that of the July 2020 with 252,744 units. At the same time Hero MotoCorp registered the rise of 7.55% in the month of August 2020 as compared to that of the August 2019.

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