Passenger vehicle supplies may get affected amid spread of Omicron: FADA
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Amid increasing spread of the Omicron variant of COVID-19, Automobile dealers' body Federation of Automobile Dealers Associations (FADA) has expressed worries that passenger vehicle supplies may get affected further if chip-making countries go under lockdown.
However, the industry body noted that it expects the semiconductor shortage situation to normalize by the second half of next year. Besides, the Automobile dealers' body anticipates that the second half of 2022 may see supply as well as demand slowly coming back to normalcy.
Further, FADA President Vinkesh Gulati said that autoiIndustry may fully recover only by 2023 and come back to its pre-COVID levels if COVID becomes a history. He, however, noted that the two-wheeler market which continues to face demand headwinds may further go into a slump if the third wave becomes a reality.
