Low disposable income
While the first wave of pandemic devastated the already ailing Indian economy last year, a chunk of the consumers was showing resilience after the last year's lockdown was being withdrawn step by step through the unlock phases. However, post the festive period, especially since early 2021, as the second wave of the pandemic hit the country harder, the revival pace of economic crisis went downward again.
Many people lost their jobs, while many people who lost jobs last year are still looking for jobs. Apart from that, huge healthcare expenses are also resulting in people losing their disposable incomes significantly. Such a situation is also playing a key role in the low automobile demand and low output.