The suspension of shipments by sea in China in the wake of the outbreak of coronavirus that has led to nearly 3,000 deaths worldwide, is likely to adversely impact the domestic automotive component industry. China accounts for 27 per cent of India’s automotive component imports every year. “The coronavirus is expected to have an impact on the Indian automotive industry and hence also on the automobile component and forging industries, who had already reduced their production rate due to the market conditions and on account of the impending change over to BS-VI emission norms from BS-IV from the 1st of...

Hyundai Motor and Toyota Kirloskar Motor (TKM) have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak. Hyundai has decided to halt production at its Chennai plant while TKM has put brakes on manufacturing at its Bidadi facility in Karnataka. “The company will be taking the preventive counter-measure of suspending its manufacturing operations at the Chennai facility from March 23 till further notice to stop the spread of coronavirus (COVID-19) – a global pandemic,” Hyundai Motor India said in a statement. TKM said that keeping the safety of employees as the top priority, the company has...

Maruti Suzuki has announced that it will be temporarily suspending operations at its facility in Haryana, in accordance with the government’s policy in the backdrop of the Coronavirus outbreak. The firm will be shutting its operations in Gurugram and Haryana indefinitely dependent on Government policy. Maruti temporarily suspends operations due to COVID-19 outbreak A statement by Suzuki read, “The Company will shut production and office operations at its facilities in Gurugram and Manesar, Haryana with immediate effect till further notice. The Research and Development Centre at Rohtak will also remain closed.” The firm went on to state that the suspension...

Mahindra Group Chairman Anand Mahindra on Sunday proposed lockdown for the next few weeks, expressing concerns over reports that India is likely to have already reached stage-3 of coronavirus transmission. He also offered the facilities of the group’s hospitality arm as medical care facilities while the group will work on how its manufacturing facilities can make ventilators. “Going by various reports from epidemiologists, it is highly likely that India is already in stage-3 of transmission. Cases could rise exponentially with millions of casualties, putting a huge strain on medical infrastructure,” Mahindra said in a series of tweets. He further said,...

China accounts for 27 per cent of India’s automotive component imports and, as China suspends shipments by sea due to Coronavirus, the car industry could be moving towards troubled waters. How it got Affected The suspension of shipments by sea in China in the wake of the outbreak of coronavirus that has led to nearly 3,000 deaths worldwide, is likely to adversely impact the domestic automotive component industry. China accounts for 27 per cent of India’s automotive component imports every year. “The coronavirus is expected to have an impact on the Indian automotive industry and hence also on the automobile...