Coronavirus has brought down the whole world to a standstill. Affecting over 190 countries India is no exception. Currently, under a total lockdown, the automobile industry has been hit hard. Already having a bad last year, 2020 was expected to be the year the industry jumps back. This, however, didn’t come to pass due to the virus and the lockdown, there has been not even a single car sale in the last three weeks.
Popular Read: Lockdown Car Storage Checklist: How To PROPERLY Store Your Car
Following this Tata Motors have decided to not release a sales report every month. They will instead be releasing quarterly sales report which would have wholesale and retail figures.
Tata saw only a small sale of 12,924 units in March this year compared to 74,679 units March of last year. These sales are expected to get even worse as the lockdown will last till 15th April under normal conditions as money states are considering increasing the lockdown to the end of April.
Read More: Citroen C5 Aircross India launch pushed to 2021-Coronavirus Effect
The step to not release monthly sales reports is due to the volatile nature of the market. The monthly sales falling can cause investors to leave and to prevent this Tata Motors will release a quarterly report which will help both investors focus on long term dividend and the company for long term goals.
The lockdown has caused major problems for the automobile companies and more so for the small dealerships and OEM’s that were hit the hardest.
The lockdown is expected to increase as the coronavirus cases don’t appear to be slowing down at all. This can cause a major issue for the Automobile companies.
Suggested Read: 31 BS4 Bikes And Scooters With Discounts | Stocks Running Out Soon!
