Second wave of Covid is hitting hard to Indian Auto Industry and making it to come at 9 month low production rates. May will be having almost all factory shuts with bad supply chain solutions in Covid 19 infections in every corner of country and partial lockdown in various states.
Even most of big auto makers have been scheduled to go on 2 to 3 week partial closure of their plant due to Oxygen shortage in the Country, in which they have decided to divert Medical Oxygen supply to the states. As companies like Maruti Suzuki, Hyundai Motor India, Mahindra & Mahindra, Toyota Kirloskar, Hero MotoCorp, Honda Motorcycle, Escorts, and Ashok Leyland are the one who have taken measures to block the chain of infection in the country. In the latest development, Hyundai is the one who have scheduled to be close from 10th to 15th May 2021.
According to the projection, Industry will be having almost 1.2 to 1.5 million VC and other Vehicles output which is almost 50% of the original plan which companies projected. As almost every company retail store are being affected in which almost half of retail store also shut, sales are likely to fall to a 6-9 months low.