Over 2,300 crore will be lost every day due to closure of vehicle plant: SIAM
Rajan Wadhera, president of the Society of Indian Automobile Manufacturers (SIAM), Society of Indian Automobile Manufacturers (SIAM), said in a statement, “As per the quick estimates by SIAM, there is a possibility that auto OEMs and components will result in turnover due to plant closures There will be a loss of about Rs 2,300 crore each day. ”
All the major vehicle manufacturers like Maruti Suzuki India (Maruti Suzuki India), Hyundai (Hyundai), Honda (Honda), Mahindra (Mahindra), Toyota Kirloskar Motor (Toyota Kirloskar Motor), Tata Motors (Tata Motors), Kia Motors (Kia Motors ) And MG Motor India (MG Motor India) have announced temporary closure of work at their plants.
Two-wheeler manufacturers like Hero MotoCorp (Hero MotoCorp), Honda Motorcycle and Scooter India (Honda Motorcycle and Scooter India), TVS Motor Company (TVS Motor Company), Bajaj Auto (Bajaj Auto), Yamaha (Yamaha) and Suzuki Motorcycle (Suzuki Motorcycle) Has also suspended production. In addition, tire manufacturers and other major auto component manufacturers have also ceased manufacturing activities due to an outbreak of coronovirus.
