Indian automakers could report the worst demand decline in almost three decades in the three months to June, with wholesale dispatches and retail sales of passenger vehicles contracting drastically in the quarter that coincided with arguably the world’s strictest and most comprehensive lockdown to prevent the coronavirus from spreading.The industry could see an overall decline of 25-45% in fiscal 2021 and Q1 could see a drop of more than 70 percent, with heavy commercial vehicles expected to see a degrowth of 50%, touching sales levels of 2008.
According to industry estimates, passenger vehicle wholesale figures could shrink to 1.5 lakh units from 8.73 lakh units. Retail sales could fall to 2.5 lakh units from 7.94 lakh units recorded last year.