Auto industry may suffer a production loss of more than Rs 1 trillion: SIAM
The automobile industry may suffer a combined production loss of more than Rs 1 trillion due to coronavirus, says the Society of Indian Automobile Manufacturers (SIAM).
While many automakers are importing ventilators and testing kits to augment the efficiency of the healthcare sector, some are turning their facilities into temporary hospitals in a bid to help the government to fight Covid-19.
“As per estimates, it (auto industry) may suffer a combined production loss of more than Rs 1 trillion in this period of shutdown. Nevertheless, the industry is closely working with the government, public and private hospitals and local NGOs to pave the path for quick recovery from this critical health emergency,” said SIAM.
SIAM, an apex national body representing all major vehicle and vehicular engine manufacturers, said that the industry has contributed over Rs 33 crore to government relief funds, while over 7.5 million face masks and over 90,000 PPE kits were distributed.
The industry has set up production capacities to set up over 60,000 plus ventilators and 1,700 plus beds.
The main beneficiaries include migrant workers, truck drivers, low income households, health care professionals, police personnel, elderly people and children, among other marginalised communities.
SIAM said, “The auto industry has been hit by multiple factors like slump in domestic demand, global supply chain disruptions and plant closures due to lockdown. We are making innumerable efforts to give back to the society in these testing timings. “
Auto industry’s contribution at a glance
- Over Rs 33 crore to govt relief funds
- Supplied over 7.5 million face masks
- Over 90,000 PPE kits supplied
- Production capacities set up for over 60,000 ventilators
