With no fillip to demand generation, dismayed auto industry stares at an uncertain future
The automotive industry registered a double digit drop in sales across categories due to increase in vehicle prices
The outbreak of the Covid – 19 pandemic exacerbated the crisis as it resulted in sudden crash of vehicle sales as customers stopped venturing in dealerships
The automobile sector is staring at an uncertain future as the relief economic package announced by the union government may not be able to address the challenges faced by the sector adequately. According to executives and sector experts, the union government has done nothing to stimulate demand at a time when demand for big ticket items like automobiles has crashed due to the Covid-19 induced slowdown.