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More pain ahead for the auto sector? Here's what top brokerages say

The Nifty Auto index has plunged 41.7 per cent since February 3, 2020 as compared to 29.5 per cent fall in the Nifty50 index

Topics
automobile manufacturer | Maruti Suzuki | Mahindra & Mahindra

Chirinjibi Thapa  |  New Delhi 

cars
According to an estimate, the country’s automobile sales were down by an average 64 per cent in March

The outbreak of the novel (COVID-19) and the 21-day national lockdown announced to stem its spread have brought the auto space nearly to a halt. The automakers who were already struggling with a slowing economy -- the GDP growth slowed to nearly 7-year low of 4.7 per cent in Q3FY20 -- and transition to BSVI emission norms have now been hit by a Black Swan event the extent of whose impact is still undefined.

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First Published: Fri, April 03 2020. 13:35 IST
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