Corona hit the auto sector, new vehicle sales falls by 78 percent

Jul 26 2020 03:40 PM
Corona hit the auto sector, new vehicle sales falls by 78 percent

New Delhi: As the coronavirus infection increased in March this year, lockdown was implemented. Due to the ever-increasing cases of Corona, the lockdown was kept in force for more than 50 days. Due to which the auto industry has registered a slowdown. Even after the lockdown is ended, its effect can be seen on the market.

After the lockdown was lifted, the sale of passenger vehicles in the period of April-June has registered a decline of 78.43 percent. According to the report received, it was possibly the worst quarter in the auto sector. On the other hand, sales of old and second-hand cars have increased in the market. According to the Society of Indian Automobile Manufacturers, the impact of the Corona has been so severe on the auto sector that it will take 3-4 years to reach peak sales achieved in 2018. In particular, passenger vehicles registered a decline of 78.43 percent in sales during the April-June period. Which was described as the worst quarter for the auto sector.

Shashank Srivastava, executive director of marketing and sales, Maruti Suzuki India, says that given the earlier figures of Corona, now the company has seen a jump in procurement of new cars by only 80 to 85 percent. At the same time, there has been an increase of 115 percent in the purchase of second-hand cars.

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