Hey, Your Top Automobile News for May 21, 2021

Your Daily Automobile updates From Around The World [  The Automobile News]( You Might Like [Learn more about RevenueStripe...](     [Biden Test-Drives New Truck To Promote Electric Vehicles]( On a day many motorists in the southeastern United States could not find gasoline, President Joe Biden promoted the transition to electrical vehicles while warning that China is ahead in the race to build the next-generation automobiles.  “They think they’re going to win, but I got news for them. They will not win this race. We can’t let them. We have to move fast,” said the president during a visit to a Michigan plant where electric pickup trucks are made.  Ford on Wednesday will formally unveil its F-150 Lightning, an all-electric version of its best-selling pickup truck, which the president drove on a test track following his remarks. “We’re going to set a new pace for electric vehicles,” Biden promised. “That means reversing the previous administration’s shortsighted rollback of vehicle emissions and efficiency standards.”  The president made the remarks after a tour of the Ford Rouge Electric Vehicle Center in Dearborn, the latest of his road trips to promote his sweeping economic revitalization legislative packages. “We’re at an inflection point in America,” the president told a group of Ford employees during the tour. [Read Full Article](     [Bosch Warns Auto Sector Recovery To Take More Time]( Auto component maker Bosch warned that a turnaround of the Indian automobile industry is likely to be pushed to 2023, a year more than it had previously predicted, due to the severe impact of the second Covid wave. The German firm said last year that the first wave had an adverse impact on an already sluggish economy and it would take at least four years to get back to the record sales levels of 2018-19. “We had some good recovery between January and March, before the second wave struck, and at this moment, the whole industry is looking at scenarios. If this continues, then the recovery will take an additional six months to one year,” Bosch managing director Soumitra Bhattacharya told TOI. Many auto and ancillary makers have shut down plants due to the lockdowns across states. Dealerships have also been hit due to the restrictive measures. ICRA Ratings said that the two-wheeler segment is now expected to grow at 10-12% for the year, down from 16-18% previously expected, while the passenger vehicle segment will grow at 17-20%, down from 22-25%. While sales of heavy commercial vehicles and tractors are likely to remain flat, sales of light commercial vehicles and buses are expected to tank. [Read Full Article](   [Recovery Momentum In Automotive Sector To Decelerate: ICRA]( The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well.  The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cen The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well.  The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent  - Domestic two wheeler segment to witness a growth of 10-12% in fiscal 2022 against an earlier projection of 16-18% - Passenger vehicle sales will also grow by 17-20% against 22-25% growth projection earlier - Commercial vehicles growth has been revised to 21-24% against 27-30% on the low base of fiscal 2021 - Tractor segment, which has been the only outlier in the last few years, will also see flat growth this fiscal The intensity of the second wave of pandemic is likely to take a toll on the country’s domestic automobile sector which was poised for a strong double digit growth in fiscal 2022 over the low base of fiscal 2021. Credit rating agency ICRA has downgraded the prospects of each segment of the industry in view of the pandemic which has, unlike last year, spread significantly into the rural parts of the country as well. The steepest downward revision of growth prospects is in the two-wheeler segment in fiscal 2022 where ICRA now believes growth will be in the range of 10-12 per cent against an earlier projection of 16-18 per cent. Similarly for passenger vehicles, growth would be 17-20 per cent against 22-25 per cent and for commercial vehicles it would be 21-24 per cent against 27-30 per cent. Even tractors, a segment that has continued to show strong growth even in the middle of the first wave of pandemic, is likely to stagnate this fiscal on the very high base of last year.  [Read Full Article]( You Might Like [Learn more about RevenueStripe...](     Connect with the automobile news on social media platforms  [Facebook]( [Twitter]( [Linkedin]( You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. This newsletter is managed by [Postbox Consultancy Services Pvt. Ltd](.C-4/5, IBD Emporia, Kolar Road, Bhopal, Madhya Pradesh, INDIA, 462042 Want to change how you receive these emails? [Update your preferences]( or [Unsubscribe](