We are pleased to announce the release of our quarterly publication Auto Track for Q1 FY 21.
With disturbances in supply chains and vehicle production, a macroeconomic impact is likely to be felt on both supply and demand side of the automotive industry. Sales have suffered deeply due to nationwide lockdown and the demand in the sector plummeted. Even as the country ‘unlocks’ slowly, weak income growth, low consumer sentiments and slowdown in credit are vital factors that could drag down the overall demand in the sector.
Here are a few key highlights from the latest publication:
Grant Thornton survey on personal mobility experience post COVID-19
To understand consumer expectations and preferences for a safer mobility experience post the pandemic, our Firm conducted a survey focusing on consumer sentiments towards vehicle purchase, their preferences to various mobility categories and features expected by them in a new vehicle in the current and post COVID-19 scenario.
How is the industry ‘unlocking’
From launching new models and implementing social distancing norms in factories to going digital in a bid to enable hassle-free purchase, this section focuses on how auo companies have been trying to mitigate the effects of COVID-19.
Facilitating global OEMs
India offers scope for the manufacturing of low-cost vehicles in the developing economy. This section captures Government of India's commitment to welcoming investments and its mechanisms to facilitate the investor at each stage of the process.
Essential nature of clean energy sector
India has shown a commitment to shift to clean energy. However to better address the scale of sustainability challenges, what should be the focus of the government.
End of life policies and initiatives
The section captures the industry’s engagement with the government requesting for an incentive-based scrappage policy with various monetary incentives.
Relief packages for the industry
The government needs to address deeper issues plaguing the industry as the pandemic has caused a widespread disturbance and hobbled value chains of most of the industries, including automotive.