Coronavirus outbreak that has claimed around 3,000 lives worldwide has affected people across in more ways than one. While many people are suffering from a potentially life-threatening infection, many more are having to deal with the side effects that have come with the global outbreak. From stock markets to global economies, the threat of the virus has had its effect everywhere.
India is no stranger to the pandemic. While there are only a handful of people affected directly by the virus in India, large masses have felt the impact -- individuals and institutions alike. On Friday, India's booming stock market fell over 1,400 points, resulting in a major wipe-out of income from the pockets of the investors.
India's auto sector, which has been on a slow recovery from one of its worst slowdowns in the last 2 decades, has also felt the impact of the virus. As the threat of the virus grows and various countries take measures that involve restrictions, automakers in India are finding their path to recovery extremely difficult.
Maruti Suzuki sees 1% drop in sales
The country's largest carmaker Maruti Suzuki India (MSI) on Sunday reported a 1.1 per cent decline in sales at 1,47,110 units in February. The company had sold 1,48,682 units in February last year, Maruti Suzuki India (MSI) said in a statement.
Domestic sales dropped 1.6 per cent to 1,36,849 units last month as against 1,39,100 units in February 2019, it added. Sales of mini cars, comprising Alto and WagonR, stood at 27,499 units as compared with 24,751 units in the same month last year, up 11.1 per cent.
Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, declined 3.9 per cent to 69,828 units as against 72,678 cars in February last year.
Mid-sized sedan Ciaz sales stood at 2,544 units as compared with 3,084 units in February 2019.
However, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, rose 3.5 per cent to 22,604 units as compared with 21,834 units in the year-ago month, MSI said.
Exports in February were up 7.1 per cent at 10,261 units as against 9,582 units in the corresponding month last year, the company said.
MG operations in India affected by supply constraints
Morris Garages, which made a successful debut in the Indian market last year with the MG Hector is suffering a hit by component supply constraints from coronavirus hit-China and other locations. MG Motor India on Sunday reported retail sales of 1,376 units in February.
"The unforeseen coronavirus outbreak has severely affected the company's European and Chinese supply chains, disrupting its production and impacting sales in February, MG Motor India Director – Sales Rakesh Sidana said in a statement.
The disruption in sales will continue through March, Sidana added.
"We are working towards stabilizing the situation and are hopeful that reasonable normalcy will be restored by the end of March," he added.
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