In this Video, we explain how COVID-19 affected the Indian Automotive Industry & how it led to a Global Semiconductor Chip shortage.
The Global Semiconductor Chip shortage caused a long waiting period on cars. The Indian Automotive Industry could not manufacture cars because of the shortage of Semiconductor Chips. This shortage led to a one year long waiting period on the Mahindra Thar and months of waiting period on The Nissan Magnite, MG Astor, Mahindra XUV 700, Hyundai Creta, Maruti Suzuki Eritga & many other cars.
In this video, we also go through all the important events beginning from 2019, that led to this unfortunate condition of the Indian Automotive Industry and how COVID accelerated problems for the Indian Automobile Industry. When the Indian Economy was at its low with a GDP of 3.1%. The sales were low for the Indian Automotive Industry because of the increased taxes, hiked fuel prices and many other reasons. We look at the BS-4 & BS-6 Crisis that had stressed the Indian Automotive Industry financially.
Based on the reports, we expect this Global Semiconductor Chip shortage to end by the end of 2023 and stabilise the Indian Automotive Industry and gradually increase its growth with increased production of cars and reduce the long waiting period for customers.