The sales numbers for the month of April have started coming in and they show a rather historic event.
Tesla's revenue in Q1 2020 reached $5.9 billion, an increase of nearly $1.5 billion a year ago.
China suffered a whopping 92 per cent decline in year-on-year growth of sales in February this year.
While this reflects a decline as against the 3,885 units that it sold in the first quarter of 2019, the sales are laudable considering the current environment of the industry.
At least a dozen cities or provinces have encouraged people to buy cars, mainly by offering cash subsidies of as much as $1,400 (Rs 1.07 lakh) per vehicle.
The nationwide lockdown has led the companies to understand the importance of virtual consumer experiential marketing, says Jatin Ahuja.
The Indian auto industry is facing one of the worst slumps ever due to an imminent lockdown that was imposed to curb the outbreak of COVID-19 in India.
The company sold 7,466 units of the Seltos and 1,117 units of Carnival in last month.
The company reported a Y-o-Y decline of 47 per cent after it managed to sell 83,792 units in March as automakers in the country were forced to suspend operations.
India's largest carmaker Maruti Suzuki reported a decline of 47 per cent.
Hyundai said that it had sold 61,150 units in the same month last year compared 32,279 units in March 2020.
All major automakers like Maruti Suzuki India, Hyundai, Honda, Mahindra, Toyota Kirloskar Motor, Tata Motors, Kia Motors and MG Motor India have announced a temporary shutdown of plants.
Uttar Pradesh recorded 28,136 unit sales followed by 21,838 units sold Maharashtra and 20,413 units sold in Gujarat, as per FADA data.
Hyundai Motor India's domestic sales were down by 7.2 per cent, with 40,010 units sold compared to 43,110 units sold in February 2019.
Maruti Suzuki will offer its customers a wide range of CNG, hybrids and electric car options under their ‘Mission Green Million’.
The Deloitte study also found that a majority of Indian automobile owners were concerned about the security of biometric data shared with connected vehicles.
As per the data released by the Society of Indian Automobile Manufacturers (SIAM), the automotive sector continues to see a decline in sales, although the slowdown is not as bad as the year before.
The 116-year-old British company said it sold a record 5,152 cars in 2019, compared with 4,107 units in the prior year.
Norway offers an advantageous tax benefit to electric and hybrid vehicles, making them quite competitive in the market against petrol and diesel variants.
Global electric vehicle sales rose to an all-time high of 1.2 million units sold between January and October this year.