In May21, OEMs like Maruti Suzuki (MSIL), TVS Motors (TVSL), Bajaj Auto (BJAUT), Hero MotoCorp (HMCL), Royal Enfield (RE), VECV, Ashok Leyland (AL), Escorts (ESC), and M&M; (PV & FES) have reported a double-digit decline on MoM basis. The 2nd covid wave has affected the production, supply chain, and demand because of strict lockdown. However, as the covid curve flattens the pent-up demand expected to come back. The Tractor industry expected to rebound on the back of a healthy monsoon forecast, bumper Rabi crop harvest, and land preparation for the Kharif crop. We believe low base, all-time low-interest rates, and demand for personal...