Workers assemble motorcycles on the production line at the Honda Motorcycle & Scooter India Pvt. plant in Manesar, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
As the second Covid wave and rising fuel prices depressed domestic demand, record exports cushioned Indian automakers in the first quarter.Passenger vehicle and two-wheeler volumes tumbled 30% and 45%, respectively, over the prior quarter in the three months ended June, according to data by the Society of Indian Automobile Manufacturers. Exports for the two segments, however, rose 12.5% and 3%, respectively, during the period.“Export...