Sales and job losses have hit companies in Pimpri-Chinchwad, an automobile hub bordering Pune.
Sales of medium- and heavy-duty commercial vehicles (M&HCVs), excluding buses, considered a barometer of economic activity, more than halved in August.
The overall volume at India’s top four M&HCV makers — Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra — fell 59.5 per cent to 31,067 units during the month, compared with the year-ago period.
Companies are now hinging their hopes on the festive season and a pre-buying ahead of the implementation of BSVI emission norms, which take effect on April 1, 2020. Listen to this podcast to know more