In the case of vehicle sales in India, there has been a significant decline in vehicle sales in the month of April as compared to March. This decline may continue for the next few months.
Auto Industry
The second wave of Corona epidemic in India has stalled the business of every company. Many people have lost their lives due to this epidemic. In such a situation, many companies have stopped their production for the time being. The epidemic has mostly affected the auto sector, including four wheeler and two wheeler vehicles. That is, the companies which had taken advantage of the festive season last year to compensate for the loss of their sales have once again suffered a big loss.
According to industry sources, the vehicle dealers’ body FADA (Federation of Automobile Dealers Associations) has written to Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta Das, requesting immediate relief and made them aware of the difficulties being faced by the sector. Apart from this, the industry organization has requested for extension of the loan or installment for the number of days in which the state has been locked up for the corona virus epidemic.
Sales decline in India
If we talk about India, then there has been a significant decline in the sales of vehicles in April compared to March in the case of vehicle sales. During this period, a lot of sabotage has been recorded in the segment from toweler, three wheeler to passenger and commercial vehicles.
According to the report of the Federation of Automobile Dealers Associations (FADA), in April 2021, 11,85,374 vehicles were registered. At the same time, in March 2020, 16,49,678 vehicles were registered. Accordingly, there has been a decline of 28.1 percent in vehicle sales in April 2021 as compared to March 2021. For information, let us know that due to Corona, there was a lockdown in the country in April last year due to which there was no sale. So FADA compared the sales in April 2021 to March 2021.
The auto sector is once again expected from the festive season
Let me tell you that last year when the first wave of Corona knocked in the country, there was some similar damage to the auto sector. But from November to December, companies made up for it. The auto sector took advantage of the festive season during this period and sold a lot of vehicles to customers. In such a situation, something similar is happening with this sector this time too and people are not able to buy anything due to lockdown. In such a situation, it may happen once again that the festive season gives life to the auto sector.
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