Coronavirus Outbreak: Impact on auto sector to be clear once lockdown is lifted, says Nissan Motor India

The impact of the COVID-19 pandemic on India's automobile industry will be clear once the ongoing lockdown is lifted and there is clarity on the time taken by the supply chain to resume optimal production, according to a top Nissan Motor India official

|Apr 07, 2020, 11:40:19 IST

New Delhi: The impact of the COVID-19 pandemic on India's automobile industry will be clear once the ongoing lockdown is lifted and there is clarity on the time taken by the supply chain to resume optimal production, according to a top Nissan Motor India official.Before the outbreak, the Indian auto sector was already suffering from a prolonged slump. During the April-February 2019-20 period, passenger vehicle sales had declined by 14.68 percent to 26,32,665 units as against 30,85,528 in 2018-19.Total vehicle sales across categories had also declined by 15.85 percent at 2,04,98,128 units April-February of 2019-20 as compared to 2,43,58,082 units in the comparable period previous fiscal, according to Society of Indian Automobile Manufacturers (SIAM).[caption id="attachment_1049055" align="alignleft" width="380"]

Representational image. AFP.[/caption]With the novel coronavirus outbreak, the industry was given a further blow with Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera stating that as per quick estimates by the auto industry body, the plant closures of auto original equipment manufacturers (OEMs) and components makers would lead to loss of more than Rs 2,300 crore in turnover for each day of closure.Click here to follow LIVE updates on coronavirus outbreak"The industry is closely monitoring the constantly evolving COVID-19 situation in India and its impact on the sector will only get clear once the lockdown is lifted and the time taken by the supply chain to resume optimal production," Nissan Motor India Managing Director Rakesh Srivastava told PTI.He further said, "Auto demand has a direct correlation with the GDP growth of the country and the industry is hopeful that government will take measures to revive demand and restore normalcy in the marketplace."The pandemic had initially disrupted the supply chain, specially for components imported from China. With India also going for a 21-day lockdown from March 25, manufacturing in the auto sector has come to a standstill.Last month, the auto industry had also sought from Finance Minister Nirmala Sitharaman measures to support the sector after the government announced financial action plan of Rs 1.7 lakh crore to support medical warriors, daily wage earners, farmers, construction workers, self-help groups and women, among others.

Stroke in young adults, silent symptoms and late diagnosis: India's growing brain health challenge

Neurologists warn that stroke is increasingly affecting people in their 30s and 40s, while many brain disorders progress silently before symptoms appear. They say early diagnosis, timely referrals and healthier lifestyles are key to reducing India's growing neurological disease burden.

5 min read

Brain tumours aren't always fatal, but delayed diagnosis can be: Experts explain the key warning signs

Brain tumours are frequently mistaken for common headaches, stress or age-related cognitive changes. Doctors say recognising warning signs early and adopting a brain-healthy lifestyle can improve outcomes and reduce the risk of long-term neurological complications.

2 min read

Spices, health and the Indian plate: Why chilli can be good for you—but moderation is still key

From boosting metabolism to supporting heart health, chillies offer several surprising health benefits. But experts say the amount you eat matters, and too much spice can do more harm than good.

4 min read

Organ donation: 5 myths you need to stop believing, according to a transplant specialist

Organ donation has the power to transform and save lives, but this can happen only when myths are replaced with facts. Building awareness, having open conversations and understanding the process can help families make informed decisions.

2 min read

Fish over meat: Why a pescatarian diet may help people with obesity live longer

A large UK study tracking over 150,000 adults with clinical obesity found pescatarians outlived regular meat-eaters, while vegetarians and vegans saw no similar benefit, but experts say the findings don't translate simply to Indian diets.