Automakers stare at a long, dark tunnel, sales in March seen down by 40-80% across segments

Performance in March has eclipsed declines during events such as demonetisation in late 2016, implementation of the goods and services tax (GST) in 2017 and the global financial crisis of 2008, experts said. Passenger vehicle sales are seen at 145,000-150,000 units in March, halving from the year-ago month. Two-wheeler sales are expected to have slipped below a million units.

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