Automobile

Auto Sales Down In February & Coronavirus To Affect More

The Indian automobile industry is facing a huge impact. Apart from the suspension of shipments from China, consumers are reportedly anticipating more discounts on BS4 stock in March, which has led to sales taking a nose-dive in February.

Mahindra and Mahindra posted 55 per cent lower sales with just 10K vehicles sold in February 2020. The highest dip was, however, shown by Volkswagen, which took a 86 per cent hit in February compared to the previous year. Honda too saw a 46 per cent dip. Things were marginally better for Maruti (2.7 per cent) and Hyundai (around 7 per cent). 

China accounts for 27 per cent of India’s automotive components. A report by CRISIL suggested that “the current slowdown” and BS4 vehicles stock has actually been a “relief” for the industry in managing demand. However, if the lockdown in China persists, it will have an impact on the upcoming BS6 vehicles to be sold from April 1, 2020.  

Also, the government has asked to decontaminate containers prior to release to Customs. This is reportedly causing a delay as well.

OB Bureau

Recent Posts

Kumar Vishwas Slammed For His Veiled ‘Ramayana’ Dig At Sonakshi Sinha

Mumbai: After veteran actor Mukesh Khanna, noted poet Kumar Vishwas left netizens irked with his…

17 minutes ago

Massive Fire Engulfs Godown In Bhubaneswar’s Satyanagar

Bhubaneswar: A major fire erupted at a pressure cooker company godown at Satyanagar in Bhubaneswar…

25 minutes ago

Patha Utsav To Be Held In Bhubaneswar On Dec 29, Announces BMC

Bhubaneswar: The Bhubaneswar Municipal Corporation (BMC) on Monday announced that the Patha Utsav, which was…

27 minutes ago

‘Pushpa 2’ Stampede: We Don’t Have The Strength To Fight, Says Victim’s Husband

Hyderabad: Bhaskar, husband of the 35-year-old woman who died in the Sandhya Theatre stampede in Hyderabad,…

41 minutes ago

Vigilance Nabs Marketing Inspector While Taking Bribe From Contractual Staff In Odisha’s Koraput

Koraput: Vigilance has apprehended a Marketing Inspector for taking a bribe of Rs 7,000 from…

51 minutes ago

Legendary Filmmaker Shyam Benegal Passes Away After Prolonged Illness

Mumbai: Legendary filmmaker Shyam Benegal breathed his last at Wockhardt Hospital in Mumbai on Monday.…

1 hour ago

This website uses cookies.