Maruti Suzuki, Hyundai and others see sales plunge by 80% in May with exports taking a massive hit during the lockdown
- The Indian automobile sector reported a sharp decline in monthly sales for May 2020.
- Companies continue to struggle under the partial resumption of plants and lower production.
- Automobile sales in India have taken a massive hit since March 23 — when the government announced a nationwide lockdown to deal with the COVID-19 pandemic.
Automobile sales in India were already on a downtrend in India for over a year. It has only gotten worse since March 25 when the government announced a nationwide lockdown to deal with the COVID-19 pandemic.
Both production and sales came to a grinding halt and makers could not sell a single unit in April — despite running offers and schemes to try and boost sales. Some factories restarted in May, but the monthly auto sales data is far from encouraging.
“While most auto manufacturers have received permission and have opened their plants, the entire production ecosystem is yet to fall in place due to supply-side constraints, permission to operate with the limited workforce at plants and limited support from dealers and financiers,” said a report from Nirmal Bang, a broking firm.
It expects the pressure to continue as commercial vehicles is one of the worst-affected segments due to “excess capacity and limited drive availability.”
|Maruti Suzuki India||May 2020 sales||May 2019 sales||Drop in sales %|
|Escorts||May 2020 sales||May 2019 sales||Drop in sales %|
|Hyundai Motor India||May 2020 sales||May 2019 sales||Drop in sales %|
|Mahindra & Mahindra||May 2020 sales||May 2019 sales||Drop in sales %|
|TVS Motor Company||May 2020 sales||May 2019 sales||Drop in sales %|
|Royal Enfield (RE)||May 2020 sales||May 2019 sales||Drop in sales %|
SEE ALSO: May monthly auto sales data is unlikely to fire up the spirits
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