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Passenger vehicle sales in Q1 likely to crash by over 80%: ICRA

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Due to the repeated extension of lockdown measures sales during FY 21 will decline in the rage of 22% to 25% compared to 10-15% expected in the first phase of the lockdown, says ratings agency Sales of passenger vehicles could decline by more than 80% in the first quarter of FY 21 due to lock down measures to contain the spread of Covid-19, and drop in affordability of customers as result of the economic slowdown, according to credit ratings agency ICRA.

Credit profile of Original Equipment Manufacturers (OEMs) and dealers will also suffer significantly as consequence. Also, due to the repeated extension of lockdown measures, the ratings agency thinks sales during FY 21 will decline in the rage of 22% to 25% compared to 10-15% expected in

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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