Coronavirus “destroyed” the market for new cars in India

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Coronavirus “destroyed” the market for new cars in India

According to the magazine Business Today, the pandemic coronavirus infection COVID-19 led to a catastrophic drop in sales of new cars in India. In April of this year, was first recorded zero level.

For the first time in the history of Indian car industry, local manufacturers have not sold any car on the home market. In April recorded only a small number of export transactions, and also transactions for the sale of agricultural machinery. Thus, the local market leader Maruti Suzuki in March 2020 implemented in India 79 000 vehicles, and 4700 was sent for export. In April, the indicators to be 0 and 632 of the instance, respectively. Other companies fared no better: Mahindra & Mahindra exported 733 machine and sold about 4,800 of tractors.

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Two weeks ago, the Association of European carmakers (ACEA) has released the sales report for March and the first quarter of 2020. According to the document, in the last month because of a pandemic, the European market experienced one of the strongest drops in history – minus 55.1 per cent. The number of registrations of new cars in the I quarter decreased by 25.6 percent.

The largest drop was shown by Italy (85.4 per cent), France (72.2%) and Spain (69,3 per cent). Germany posted a decline of 37.7 per cent. For the first quarter of 2020, the same countries showed -35,5, -34,1, -31 and -20,3%, respectively. Plus for the first three months were spent only Lithuania and Cyprus.

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