The lockdown has cut the back of the auto business. In April-June, the sales of vehicles in India may be the biggest slump in three decades. Due to the steep slump in sales of cars and utility carriers, the sales of vehicles are going to be so low in the April-June quarter.
Sales are expected to fall by 25 to 45 per cent
According to calculations, during the first quarter (April-June 2020), the sales of vehicles may fall by 25 to 45 per cent. Sales of heavy commercial vehicles may fall by up to 50 per cent. Sales of vehicles in this segment can reduce to 2008 levels. During the recession in 2008, there was a huge decline in sales of vehicles. According to manufacturing estimates, wholesale sales of Passengers’ vehicle can diminish to 1.5 lakh units. It was 8.73 lakh units in the same period last year. At the same time, the retail cell can be reduced from 7.94 lakh units to 2.5 lakh units. Purchases are seen in the highest number of trucks.