NEW DELHI: Hit hard by the nationwide lockdown to control the spread of the COVID-19 pandemic, passenger vehicle makers reported a nearly 50 per cent drop in March sales numbers while commercial vehicle makers reported a whopping 90 per cent drop.
The country’s largest carmaker Maruti Suzuki India (MSIL) on Wednesday reported a 47.4 per cent year-on-year decline in March sales at 76,240 units as buyers stayed away from dealer showrooms. For the full financial year, MSIL reported a 18.2 per cent fall in sales at 1,414,346 units, its steepest fall in recent times.
Other carmakers also reported a drastic fall in March sales. Hyundai Motor reported a 41 per cent y-o-y decline in domestic sales at 26,300 units last month, while Tata Motors’ PV sales were down 68 per cent at 5,676 units. New entrant Kia Motors too reported total sales of just 8,583 units in March as against 15,644 units sold in February.
“Countries and businesses across the globe have come to a standstill due to the COVID-19 epidemic, which has impacted the automobile industry as well with production units, offices and dealerships suspending all operations temporarily,” Kia said.
An even bigger slump was seen in the sales of commercial vehicles despite steep discounts on BS-IV stocks. Ashok Leyland’s domestic CV sales stood at just 1,787 units in March — a decline of 91 per cent year-on-year. Tata Motors CV sales were down 87 per cent at 7,123 units compared to the previous year.
Going forward, the outbreak coupled with newer emission norms and a fall in economic activity is expected to bring more trouble for the sector.