MUMBAI : The ongoing nationwide lockdown to contain the spread of covid-19 has aggravated the woes of the automotive industry, which was already grappling with subdued demand for vehicles amid economic slowdown.
According to the sales disclosed by the leading carmakers such as Maruti Suzuki India Ltd (MSIL), Hyundai Motor India Ltd (HMIL), Mahindra & Mahindra Ltd (M&M), Tata Motors Ltd (TML) and Toyota Kirloskar India Pvt Ltd (TKM), which together account for about 85% of the overall domestic passenger vehicles, March sales have registered a sharp 52% average decline year-on-year.
Vehicle retails began witnessing the impact of the covid-19 scare after mid-March when customer walk-ins reduced dramatically at the automobile showrooms.