With Ford’s exit, a total of 464 dealers (excluding those dealing with Fiat, Mitsubishi) are said to have pumped in Rs. 2,485 crore with nearly 64,000 people employed thereof who were either axed or are about to be axed, claims FADA, industry association of auto-dealers in a letter sent to the Minis
Such coercive efforts on Ford''s part to get their channel partners to sign an NDA with the imposition of unreasonably tight timelines, under economic duress is not the right approach and adversely impacts dealer interests
Total Vehicle Retails for the month of May’21 fell by -54.79% MoM and -70.69% when compared to May’19. All categories on MoM saw bloodbath as 2W, 3W, PV, Tractor and CV fell by -53%, -76%, -59%, -57% and -66% respectively.
Overall, 2-wheeler, 3-Wheeler, and Commercial Vehicles continued to march ahead on MoM basis and inched up to narrow their gap with last year’s sale even though pre-covid levels are yet to be seen across all categories.