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India May auto sales to take a hit on rising Covid cases

ABSTRACT

The second wave of Covid-19 is threatening to slam the brakes on the automotive sector that was just beginning to accelerate. The cautious optimism with which the auto-makers looked forward to FY ’22 has given way to worry as the sudden spike in the infections has led to lockdown in many key markets. In recent weeks, there have been a number of automakers that have had to shut down their manufacturing plants due to the rapid increase in COVID-19 cases.
Maruti Suzuki, India’s largest passenger car company accounting for over 50% of the domestic car market, announced that it will stop producing cars in the company’s plants in Haryana between 1st-9th May, 2021 to make oxygen available for the healthcare and medical sector. The press release note stated, “As part

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