
Turbocharging the Indian auto industry
August 30, 2020
August 30, 2020
No production, no sales. Indian automakers saw their bleakest April in decades this year when production tumbled from 2.19 million units a month to zero and sales plummeted to zero. COVID-19 had brought everything to a complete halt.
Even before the pandemic, Indian automakers were grappling with falling demand as the economic slowdown took its toll. Add to it, the challenges from connected, shared and electric mobility and the transition from BS-IV to BS-VI fuel emission norms. While recovery will be even more difficult now with the pandemic, we believe the industry can still take actions to outmaneuver uncertainty. How? By rapidly responding to the current disruptions and strengthening operations to prepare for the “never normal”.
Let’s evaluate the unprecedented disruption caused by COVID-19:
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Taking a digital turn: Almost every carmaker in India is accepting online orders, providing virtual tours of vehicles, and allowing negotiations over video call at dealer outlets. Some are also offering 100% on-road funding and payment schemes to help customers who may have lost their jobs.