The second Covid wave has hit harder to every sector including two-wheeler markets than the first wave as sales declined by 30-50 per cent so far in April despite a mini festive season during the month.
Smaller cities, villages that did not face much of the covid scare in 2020 are now reeling under the deadly virus. These small areas are seeing the impact of the second wave (unlike the first wave), amid the cases reported in the second week of April surpassing the peak of September last year, brokerage firm Motilal Oswal Financial Services said in its report.
Gudi Padwa, which is a major festival of Maharashtra, fell on April 13 while the 9-day fasting period Navrarati commenced from the same day last week, among other festivals. Festive periods like Navratri and Gudi- Padwa account for a fair share of annual vehicle sales across the country, as per the report.