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Lockdown to cause over Rs 2,300 cr loss to auto industry everyday: SIAM

New Delhi: Vehicle industry organization SIAM said on Tuesday that the closure of manufacturing plants by various vehicle manufacturers and component manufacturers due to the corona virus epidemic would result in a revenue loss of Rs 2,300 crore per day.

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 major vehicle manufacturers like Maruti Suzuki India (Maruti Suzuki India), Hyundai, Honda, Mahindra, Toyota Kirloskar Motor, Tata Motors, Kia Motors and 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, Bajaj Auto, Yamaha and 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.

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