Post Covid-19: Effects on Automobile Sector in India

Author: Vaishali Siddhu

Abstract:
The pandemic Covid-19 has hard hitted the global economy and it’s after effects are distressing as expected. Every major country of world has suffered in multiple ways, India also suffered a lot . Automobile sector of India has witnessed heavy losses owing to the outbreak of novel corona virus and the resultant lockdown. It was even before covid-19 , the automobile industry of India is going through a tough phase due to new BSVI norms enforced by the government of India. And now when the whole world is under the influence of the pandemic Indian automobile market is facing slump situation. Economy as a whole is in crises, automobile sector which is already battling for it’s revival , has faced a lot of challenges like complete shutdown of manufacturing, disrupted supply, a major reduction in imported inputs, significant downfall in domestic and export demands etc. It is quite obvious that the effect of this pandemic will be severe and long lasting. A study shown with the whole nation being under a lockdown throughout April, automotive sales for the month came to a grinding halt. Leading companies, Maruti Suzuki and Mahindra have reported zero sales for the opening month of FY2020.

Keywords:automobile, pandemic, coronavirus, auto sales, lockdown

DOI:

International Journal of Trade & Commerce (Vol: 9 Issue:1)