Needless to even mention that these are trying times for all of us. Not only are these desperate times for those who, being engaged in menial jobs, were embroiled in the toil that earned them daily wages (in return) but also for employers and brands that are persisting with other grave challenges.
It’s as if the entire well-oiled machinery that was running to near perfection, thanks to efficient systems and processes in place, has come to a standstill. Typically true of the way machines suffer from breakdowns. But that they can be replaced is a sense of respite.
But when the entire global economic system suffers from a major malfunction, bringing the world to a halt, what is one to do? How can you replace jobs, economies, and that sort of thing? Surely, so many were due for a promotion or at least, some form of appraisal at their workplaces just the way so many new products were due to debut in the world markets.
Now that the world has been slowed down and is functioning in a near lockdown scenario, what is one to do?
A seemingly temporary suspension of activity that it might be, it’s caused billions and billions of worth of loss. And for a world that was already embracing the next bout of a recession- well, the conspiracy theorists and big polarisers of this debate can dogfight later on- the Corona lockdown has served a menacing hit.
It’s hit us where it hurts the most. No one is out there shopping for nothing is available save major essential supplies and medicines. So what might be the impact of Coronavirus on the auto industry?
Yes, among the other things, that is indeed a big question.
What is the real impact of Coronavirus on the auto industry? Thought about that? Probably, you may have.
But let’s, for a second, turn our attention to a daunting situation being faced by those who are caught in the entire value chain of this spectrum.
The biggest hit in this sense, if you are to understand the impact of Coronavirus on the auto industry, has been received by the Original Equipment Manufacturers and the Auto dealers.
Who’s going to need them after all? Most households that had cars already don’t need new ones. Also, how could they in these times where the ‘world is shut,’ if it might be put that way.
The work which was in ‘progress’ mode, such as the line of inventory has also come to a standstill, after all, the lockdown imposing a complete suspension of production and those sorts of activities.
But that being said, there is a glimmer of hope after all. It does appear that something bright is on the way where the auto dealers who are reeling with immense pressure and massive losses can hope to be helped.
So what’s going on.
The following is something that Hero MotorCorp’s Pawan Munjal had to say about his own dealer network and this does inspire some confidence:
“Will not let a single dealer suffer. Hero MotoCorp will look after every dealership through various measures to minimize the impact of disruption in retail and the lying stock!”
Furthermore, it’s heartening to note the revered business tycoon’s rallying behind his ailing dealers, as he shared more:
“According to the dealers present in the video conference, Munjal assured that no dealer should worry about unsold BS-IV inventory, Hero MotoCorp will look after every dealership through various measures to minimize the impact of disruption in retail and the lying stock.”
That being said, one hopes for other carmakers, such as Tata Motors, Maruti Suzuki India to take a leaf from Hero Motor’s page.