✨-Effect of COVID-19 on Automobile Industry-✨

“THE WORLD IS DISAPPEARING” THIS SENTENCE MAYBE MOST CONTINENT FOR  TODAY’S SITUATION. BECAUSE OF ONE DISEASE CALLED -CORONA-. THAT  BATS 🦇 ARE REALLY CULPRIT OF THIS SITUATION? , SOMEONE SAYS, THIS IS HAPPENING ONLY BOCOZ OF THAT BATS.., SOMEONE SAYS THIS IS HAPPENING BECOZ OF CHAINA, SOMEONE SAYS THIS IS HAPPENING BOCOZ OF EATING ANIMALS.. BUT NO ONE IS ABLE TO FIND ACTUAL REASON. WE HUMANS ARE PULLING OUR FAULTS ON ANOTHER. DUE TO THIS WORLD WIDE DISEASE WORLD🌏 IS FACING WITH MANY PROBLEMS. AND ONE OF THE CRITICAL PROBLEM IS EFFECT ON AUTOMOBILE INDUSTRY. COVID-19 LED TO SUPPLY CHAIN DISRUPTION AND PRODUCTION HALT IN LETTER HALF OF MARCH 2020.THE IMPACT OF THE CORONAVIRUS PANDEMIC AND THE LOCKDOWN IS TRIGGERED IS CLEARLY  VISIBLE IN FINANCIAL MARKSHEETS. BUT THERE IS STILL CLARITY ON THE DEEPER IMPACT THAT IS HAVING ACROSS BUSINESS &INDUSTRIAL SECTORS. BASED ON ASSESSMENT MADE BY DIFFERENT ANALYSTS &INDUSTRY BODY FICCI.. THE WORLD’S ECONOMY IS DANGLING. THE CORONAVIRUS PANDEMIC HAS DEALT A DEADLY BELOW TO HUMALITY AND TO THE INDUSTRIES GLOBALLY. THIS UNPRECEDENTED CRISIS HAS UNLEASHED A GLOBAL TRAUMA & HAS BECOME THE BIGGEST THREAT TO BE GLOBAL ECONOMY IN MODERN HISTORY -MAJOR IMPACTED BUSINESS ARE TRAVELL &TOURISM, COSTUMERS GOODS, AUTOMOBILE, IT & INSURANCE. INDIA WILL BE THE WORLD’S FOURTH LARGEST PASSENGRS VEHICLE MARKET BY 2021.IT TOOK INDIA AROUND SEVEN YEARS TO INCREASE ITS ANNUAL PRODUCTION TO FOUR MILLION VEHICLES FROM THREE MILLION -FIVE MILLION IS EXPECTED IS LESS THAN FIVE YEARS . THESE HAVE BEEN SERIOUSLY AFFECTED BY THE CORONAVIRUS CRISIS.DUE TO COVID-19, AUTOMOBILE MANUFACTURERS THE WORLD OVER ARE FACED WITH A SUDDEN SLUMP IN DEMANDS . THIS CULPTED WITH ENVIRONMENTAL FACTORS. TECHNOLOGICAL UPHEAVALS & COMPLEX REGULATORS FRAMEWORKS ARE GOING TO RESULT IN TOUGHEST TIMES FOR INDUSTRY. BUT WE HOPE THIS ALL CRISIS WILL BE CURE SOON. BUT IT WILL TAKE LITTLE BIT OF TIME.