In 2020 industries across the world were hit by the COVID-19 pandemic. India's auto sector faced numerous difficulties and was severely impacted due to nationwide lockdowns. The industry finished FY21 with a 14 percent decline in sales volumes.
As we enter FY22, the auto sector has been hit once again by the pandemic. India has seen a steep rise in daily cases, with Maharashtra contributing the highest number of active cases and five states accounting for 62 percent of total COVID caseload.
While there is no nationwide lockdown, state wise restrictions have impacted auto sector's production and sales. Approximately 6,700 dealerships across Maharashtra, Delhi, Rajasthan and Madhya Pradesh are shut.
Auto companies in Maharashtra are manufacturing only for exports and in other states are running plants with reduced workforce and production levels.
To discuss the impact of the second COVID-19 wave on the auto industry, Parikshit Luthra spoke to Vipin Sondhi, MD of Ashok Leyland and VP of SIAM; Vikram Kirloskar, VC of Toyota Kirloskar Motor and Ashok Taneja, former President of ACMA and MD of Shriram Pistons & Rings.Watch the video to find out what they have to say.