At Hero Motocorp chief Pawan Munjal has done several townhalls addressing its 4,000 employees reassuring the workforce there will be no salary cuts, an issue that is topmost on the minds. Munjal makes his Town Hall meetings interactive and he takes candid questions from employees.
The Covid-19 pandemic and lockdowns across the country have completely shut down manufacturing units. With the Supreme Court as yet not providing any breather to register the older BS-IV vehicles post March 31, auto makers may have to look elsewhere.
Platinum, palladium and rhodium are critical for catalytic converters used by automakers to reduce harmful emissions.
Following the 21-day lockdown, car dealers now have no way to sell or register cars till April 15.
Cities like Kolkata, Lucknow, Kanpur and Dehradun have stopped registering e-rickshaws, the stripped-down electric three-wheelers that are driving the growth. This, at a time when this is the fastest-growing electric vehicle segment in the country. Industry experts ET spoke to said North and East India were big markets for electric three-wheelers.
The sector, which hardly depends on imports from China as localisation levels of critical parts such as sheet metal, engines and transmission gear are close to 95%, seems to have, for a start, escaped the debilitating effect of the Covid-19 pandemic.
Pandemic is changing rules of business, landing ride-hailing platforms in unfamiliar territory. Meanwhile, local language sites, as well as IT firms are stepping forward in this hour of need.
The auto industry has been going through its worst sales slowdown for more than a year now. With the country switching to BS-VI emission standards on April 1, they have just over two weeks to clear BS-IV stocks, which remain large, especially for two-wheelers, for some manufacturers and dealers.
HR heads of various corporates ET spoke with said overall recruitment levels are very likely to drop with business slowing down globally on account of Covid-19 and restrictions on travel even as companies are monitoring the situation closely.
Some of the models to go off the shelf include the Etios, Liva, Corolla Altis from Toyota, KUV100 diesel variant and Bolero Plus from Mahindra, Hexa, Safari Storme, Zest, Bolt and all the older generation cars of Tata Motors, Maruti and Renault diesel cars.
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