COVID deals new blow to foreign carmakers’ Indian dream

COVID deals new blow to foreign carmakers’ Indian dream

  • Premium carmakers hit hardest by pandemic in India
  • Higher taxes, export uncertainty add to challenges
  • Economic recovery seen lagging United States, China
  • Some face tough choices on whether to keep investing

NEW DELHI, June 18 (Reuters) – Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.

Carmakers that saw nearly a decade of Indian sales growth wiped out in 2020 are expecting a bounce back in demand…

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COVID deals new blow to foreign carmakers’ Indian dream

 

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