The effect of the worldwide COVID-19 outbreak is being strongly felt by the commercial vehicle industry. For the first time, CV OEMs in India are reporting zero sales for the month gone by. The latest comes from Mahindra and Mahindra, who on Friday reported zero domestic sales for April 2020.
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As per the company’s regulatory filing, the company claimed that the “domestic sales of its vehicles in April 2020 was completely impacted by the ongoing COVID-19 pandemic, along with the nationwide lockdown.”.
A step decrease in demand, curtailed business operations and the lockdown pan India to control the spread of the virus, all these factors have led to a decline in sales. The company had been treading through tough waters already, with domestic sales declining by 90% in March, with a sale of only 6,130 units.
In comparison to its current performance, Mahindra and Mahindra had sold 41,603 units in the domestic market in the month of April last year. In a statement, Veejay Nakra, CEO, Automotive Division, Mahindra and Mahindra, said, “At Mahindra, we are working hand in hand with all stakeholders, especially our dealer and supplier partners, to get our ecosystem started, once the lockdown is lifted.”.
With the lockdown being extended for two more weeks in May 2020, the industry is perplexed as to how the commercial vehicle sector will bounce back. CV OEMs, however, maintain that their prime concern is the safety of their staff, and that they will fight tooth and nail to break the chain of the coronavirus and flatten the curve. Commenting on the same, Nakra added, “The safety of all our employees will be of paramount importance to us while resuming our operations. We are hopeful that our dealerships will open soon and have stocks to cover the first few weeks of sale.”.