Although Maruti's vast customer base in entry-level cars can help alleviate the price hike post-implementation of the six-airbags mandate, it has little hope of the segment recovering.
Two-wheeler sales plunged 21% to 11,84,210 units last month.
Automakers believe the Covid-19-induced lockdown proved to be a major contributing factor in building demand for passenger vehicles.
SIAM-Grant Thornton survey finds 73% of respondents willing to buy new vehicles as the economy revives.
The slowdown-hit sector takes a further hit as the nationwide lockdown hits demand. Auto sales fall 45% in March, SIAM data shows.
With a significant jump in the number of confirmed cases, Maruti Suzuki India, Hyundai, Toyota Kirloskar Motor, Honda have shut operations to check the spread of Covid-19.
Auto dealers say they won’t be able to clear their BS IV inventories before March 31 as the registration process ends much before it and the fear of coronavirus is also keeping buyers away.
The commercial vehicles segment suffered the steepest fall at 32.90%. The latest worry for the industry is the disruption in the supply of auto parts from China due to the coronavirus outbreak.
No revival in sight; barring three-wheelers, all the other segments showed de-growth.
The expo, which will see launches of connected, Internet cars, will be live-streamed on Facebook Watch and Instagram IGTV. There will be augmented reality and virtual reality booths, too.
