NEW DELHI : The nationwide lockdown has deepened woes of automobile dealers as the coronavirus pandemic crippling most economic and commercial activities will negatively impact demand for automobiles, according to India Ratings and Research (Ind-Ra).
The Supreme Court’s order on March 27 to allow automobile dealers, except in the National Capital Region, to sell 10 per cent of unsold Bharat Stage IV (BS-IV) compliant inventory within 10 days after the nation-wide lockdown ends on April 14, 2020 comes as a little respite to an already struggling automobile dealership, it said.
The ratings agency said some original equipment manufacturers (OEMs) have announced support to auto dealers either by taking the ownership of unsold stock, or by