Indian automotive wheel rims producer Steel Strips Wheels (SSWL’s) total monthly output was 11.7pc lower at 1.48 million units in April 2021 compared to 1.67 million in March this year.
SSWL’s April exports were up 4pc from last month, and the company expects these volumes to increase in the future owing to order backlogs, according to its statement on Monday.
The company’s sales in two-, three-wheelers and trucks segments last month witnessed the sharpest declines at 46pc and 34 pc, respectively. At the same time, its passenger cars (PVs) and tractors segments’ sales were down 7pc each.
SSWL attributes the overall downward trend to the ongoing global pandemic, as COVID-19 has impeded resource and material supplies. The company expects challenges will continue in the tractor PV, two- and three-wheeler sectors. Conversely, sales in the commercial trucks division may improve on strong infrastructure spending by the government of India.