The decline in vehicle production will hit the auto industry by 1 billion
Mumbai: As a result of the shortage of chips, the country's production of land vehicles is expected to fall by 1 lakh to 1.15 lakh vehicles in the current month. The fall in production could hit the auto industry's revenue by more than અ 1 billion this month, sources in the Society of Indian Automobile Manufacturers (SIAM) said. The festivals like Ganpati and Dussehra-Diwali usually come to India in the months of September and October and hence the demand for vehicles is also high during this period. The loss of આવ 1 billion in September revenue for automotive manufacturers means that the proposed full-year revenue will fall by 3 to 4 per cent. Manufacturers are struggling to get chips. Delivery of vehicles has also been delayed due to the impact on production. In September this year, the production of land vehicles was expected to be between 1.5 lakh and 2.10 lakh, SIAM sources said. Excluding the Corona period of 2020, this production figure will be the lowest in a decade...