Vehicle production will decline by up to 8.30 percent

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New delhi date. 12 February 2020, Wednesday

Due to the outbreak of coronavirus in China, vehicle production in India is expected to decline by up to 8.5 percent in India. Supply drag can affect domestic production, according to a report by Fitch Solutions.

In China, auto manufacturers have stopped production to prevent employees from contacting one another. We expect a similar policy to be adopted if there is a virus outbreak in India, the report noted.

Considering that India's health care system is poor in carrying out the widespread epidemic, Fitch said the impact on the Indian auto sector could be far more serious, as the spread of the virus could accelerate in India compared to China.

In addition, as China is India's largest component supplier country, the slow pace of supply of components from China will create a pull in its supply to India, which may result in the auto makers being forced to slow or stop their production.

In view of this calculation, we estimate the production of vehicles in India to decline by 5% to 5%. In addition, slower demand for new vehicles in India is also witnessing a decline in vehicle production.

China supplies India at 3-5% of its auto components, and if we consider India's EV segment, this figure could be two to three times larger. This may reflect how much India relies on China for its auto demand.

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