Big relief to auto industries in the first phase of unlock

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New delhi date. 18 June 2020, Thursday

The auto industry, which has been in trouble for two months during the implementation of the lockdown, has been greatly relieved in the first phase of the unlock. In the first fortnight of the current month of June, there has been a significant increase in vehicle bookings and inquiries as footfalls in auto showrooms have increased.

Following the implementation of the lockdown, Auto Industries set a new record of zero sales during the month of April. Since then sales have been weak in the month as well. Thus, the auto industry suffered huge losses during these two months.

The first phase of the unlock, which began in early June after the government gave a waiver in a lockdown to boost the economy in mid-May, provided massive concessions to the people, businesses and other industries as well as the auto industry and auto dealers. This led to a significant increase in footfalls in the show rooms of auto companies. On the other hand, there was an increase in the number of people inquiring about vehicles. Inquiries by people, especially in the two-wheeler and car sector, increased.

According to auto industry experts, Maruti Suzuki, Hyundai, Mahindra and Mahindra account for 4% of the auto market. The bookings and inquiries of these top three car companies have increased, bringing the Corona epidemic to its previous level of 9 per cent. Thus, about two lakh vehicles have been booked in the last one and a half months, indicating a fast pick-up.

Booking figures show stagnant demand, according to the industry. Usually 5-20% of bookings result in sales. Thus the concern of the auto industry has been reduced as bookings have increased in the short term. However the supply chain problem is not solved. In particular, the lockdown has been extended in six districts of Tamil Nadu and it is a hub of production. So the adversity is not completely removed.

According to informed sources, demand in rural and semi-rural areas is gaining momentum. While inquiries are still low in metros due to the high proportion of corona cases. In addition people want to avoid public transport and shared services and hence the choice of personal transport is likely to remain high. Given this, sales of the auto industry are likely to pick up in the coming days.


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