Data from 15,000 automobile dealers shows that registrations for new cars/personal vehicles has come to skidding halt due to the lockdown. The Federation of Automobile Dealers Association stated that new vehicle registrations were cut down to just a third in April.
Over 20,000 dealerships, auto retail stores across the country remain shut. That is 75% out of 26,500 outlet and stores that are open are also not seeing footfall. Compared to March when sales and discounts were being given automakers may see a fall of 80% in sales as per auto analysts.
Many companies are extending production shutdowns to avoid inventory pile-up. Hero MotoCorp had originally announced the shutdown from April 22 to May 1, which was later extended to May 9. However, with the Covid cases still on the rise, the shutdown has been extended till May 16, 2021.