Chennai: With retail sales of cars, two wheelers, three wheelers, commercial vehicles and tractors down 70% in May due to the lockdown in various parts of the country, auto dealers are demanding financial and other support from vehicle manufacturers.
“So far companies like Tata Motors-CV, Honda Motorcycle & Scooter India, Renault and Bharat Benz have offered financial and other help to channel partners, other OEMs have not done so,” said Vinkesh Gulati, president of Federation of Automobile Dealers Associations (FADA). FADA, is requesting “all those OEMs which have still not announced any financial assistance to do it urgently,” he added..
Vehicle retails for the month of May hit a skid row falling by nearly 55% month on month and over 70% when compared to May 2019.
Two wheelers, three wheelers, passenger vehicles, tractors and commercial vehicles each fell by 53%, 76%, 59%, 57% and 66% respectively. “The first 9 days of June saw a better start than expected due to pent up demand and at this pace June’21 may result in almost equivalent sales when compared to June’20,” said Gulati.