26
Aug
17:11
Indian automotive output slumps despite rebound hopes
Indian automotive production slumped -29% on-year in July to 1.72 million units, according to a Society of Indian Automobile Manufacturers (SIAM) note seen by Kallanish.
Domestic passenger vehicle sales fell -4% to 182,779 units.
In April-July automotive output thus declined -66% on-year to 3.17m units versus over 9m units a year earlier, showing the severe impact on Indian auto production and auto steel demand from the Covid-19 pandemic.
Moody's said l…
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Very good overview of the weekly steel market.
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