Budget 2022: Auto cos bear the brunt

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Auto companies have been smarting under the influence of the pandemic, their woes exacerbated by the semiconductor shortage, rising fuel prices.
Budget 2022: Auto cos bear the brunt
 Credits: Sanjay Rawat

Commercial vehicle sales plunged 20.5% year-on-year in FY21, while passenger vehicle sales declined 9.3%, hit by the Covid-19 pandemic. The nationwide lockdown led to auto companies not selling a single vehicle in April 2020. Semiconductor shortage and rising commodity and fuel prices have also added to the sector's woes.

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