The Impact of Covid-19 Pandemic in Automobile Industry. A Study on Selective Automobile Companies in India

One of India’s fastest-growing sectors is the automobile industry. In 2017, India was the world’s fifth-largest producer of automobiles. An examination of India’s car industry’s development and trends was the focus of the research. Secondary sources included the International Organization of Automobile Manufacturers’ and the Society of Indian Automobile Manufacturers’ annual publications. COVID-19 status in India’s vehicle sector, its effect on sales in a pandemic scenario, and the market share of automobile industries in a pandemic situation are the subject of this research paper. These findings were drawn based on secondary data acquired from several automobile-related websites including IBEF (India Brand Equity Foundation), Minister of Health Welfare, Government of India; as well as the Ministry of Heavy Industry and Public Enterprises. According to the findings, automakers could take steps to boost sales during a pandemic by lowering prices or offering special deals. After the New Industrial Policy was implemented in 1991, the Indian automobile industry gained a huge boost. De-licensing and 100% FDI in new plants were the result of this. In 1993, a new vehicle policy was put in place that helped the industry flourish by allowing global assemblers to enter the market. Competition and innovation were brought to the industry by Tata Motors and Bajaj Auto, Maruti Suzuki, Hyundai, Ashok Leyland, and many more big enterprises. In 2017-18, India was the world’s sixth-largest automaker, churning out 29 million cars annually, 4 million of which were exported. The industry makes a major contribution to India’s gross domestic product as a whole. Pre- and post-pandemic car industry conditions will be examined in this article.