While the domestic auto industry was already reeling under demand challenges across segments (particularly in CV) during the past 18 months, the Covid-19 Black Swan event has further pressurised (1) demand in the medium term by reducing incomes and consequent propensity to spend and (2) supply in the short term, with manufacturing activities across the country grinding to a halt overnight. As a vital part of the automotive supply chain, ancillaries such as Bosch would continue to feel the second order effects of slowdown in vehicle demand over the coming quarters. The...