Indian automakers beat Covid woes as sales in May surpass 2019 levels

However, executives warn of rising inflation's impact on demand

India’s automakers appear to have put the challenges of Covid-19 behind them as sales surpassed 2019 levels in May. However, company executives have warned that supply chain constraints, worsened by a high inflationary environment and rising interest rates, could hit demand.

The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday said its total wholesales in May stood at 161,413 units. This was 20 percent higher than what the company sold in the corresponding period in 2019, which can be taken as a benchmark year for pre-Covid sales.

“If we take the FY20 [financial year 2019-20] sales into context, the industry would