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India auto dealers cautious about June sales due to rare earth restrictions and high inventory
Indian auto dealers expect a cautious demand in June, as the industry is impacted by high inventory levels and tighter financing. The Federation of Automobile Dealers Associations of India stated that while an above-normal rainy season is expected to boost sales of tractor and two-wheelers in semi-urban areas and rural areas, a shortage of rare earths, which are critical for EV production, could dampen demand. Around 55% of members of the trade body expect flat sales in June. Automakers and dealers are counting on the new EV launch to help them grow this year, and offset the slowdown in sales...