The Coronavirus has struck the entire nation with positive cases skyrocketing to over 556 so far and claiming 10 lives. A nationwide lockdown that was practiced on March 22 will be implemented for three weeks, from March 24 to April 14. The people of the entire nation have been directed to remain indoors and the auto industry is also welcoming the move in a bid to keep its employees safe.
In a statement from Dr. Pawan Munjal, Chairman, Hero MotoCorp said, "The Hon'ble Prime Minister of India has made absolutely the right decision to place the entire country under lockdown for three weeks in order to control the spread of the Corona Virus and ensure the safety and well being of everyone. I wholeheartedly welcome this definitive decision. We are in complete solidarity with the Prime Minister and commit ourselves to provide all necessary support and services that the government may require."
However, the lockdown has its repercussions on the economy across sectors and the auto sector too cannot escape it. The Society of Indian Automobile Manufacturers (SIAM) has already estimated a minimum loss of ₹ 2300 crore each day during the shutdown. Rajan Wadhera, President- SIAM earlier said in a statement, "As per quick estimates by SIAM, it is expected that Plant closure of Auto OEMs & Components will lead to loss of more than ₹ 2,300 crores in turnover for each day of closure." All major automakers including Maruti Suzuki, Hyundai, Tata Motors, Mahindra, Honda Car India, Kia Motors, Toyota, Ford, Jeep India, Honda Motorcycle and Scooter India, Suzuki Two-Wheelers, Bajaj Auto, Royal Enfield and Jawa Motorcycles among others have suspended operations till further notice.