BRAND-NEW DELHI (Reuters) – Indian automakers Mahindra and Mahindra Ltd ( MAHM.NS) (M&M) and Tata Motors ( TAMO.NS) stated on Sunday their supply of parts from China had been struck, as fallout from the coronavirus outbreak installs.
” Entering Into March, we anticipate the difficulty on parts-supply to continue for another couple of weeks, before we get back to normalcy,” Veejay Ram Nakra, Chief of Sales and Marketing at M&M’s automotive division said in a press release.
Tata Motors said in a news release that it, too, had been hit by supply disturbances due to the coronavirus break out in China, and was working to alleviate the scenario.
Along with Maruti Suzuki ( MRTI.NS) – India’s most significant carmaker – both companies on Sunday reported a decrease in sales in February, compared to a year ago.
M&M said its domestic sales had actually fallen by 42%, while Tata Motors reported a drop of 34%. Maruti Suzuki stated its total domestic sales were down by 1.6%in February from a year earlier.
Reporting by Devjyot Ghoshal; Modifying by Mark Potter