India's Mahindra expects car sales to take two years to rebound after Covid-19 shock

India's Mahindra expects car sales to take two years to rebound after Covid-19 shock

The Edge Markets - Automotive·2021-05-30 05:03

NEW DELHI (May 29): India's Mahindra & Mahindra expects it will take at least another two years for car sales to return to their pre-pandemic peaks, but a slow pace of vaccinations could hurt recovery prospects, its chief told Reuters in an interview.

Battered by the pandemic in 2020 and an economic slowdown in 2019, passenger vehicle sales in India fell to 2.7 million units in the last fiscal year - their lowest level in six years and well below the peak of 3.4 million units in fiscal year 2019.

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