Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows. Already battered by an unprecedented slowdown before the coronavirus pandemic, the resilience of the Indian auto industry was tested severely when the nationwide lockdown was announced towards March-end. Passenger vehicle sales in India, the barometer of the automobile industry s performance, plunged 78.43 per cent in the April-June period this year hit by the pandemic, declining for the ninth straight quarter and making it the longest slowdown in 20 years.
Covid-19 hit Auto sector make the change to 2021 with cautious optimism
It is estimated that during the prolonged lockdown, the auto industry suffered losses of more than Rs 2,300 crore in turnover for every single day of closure
PTI | December 20, 2020 | Updated 14:01 IST
Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world (Photo- PTI)
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows.