The automaker sells total 7,401 vehicles in March 2020
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Bids farewell to the Etios series as well as the Corolla Altis in India.
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This decision comes in the wake of the 21-day nation-wide lockdown announced to combat the virus.
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" FIOM representative Michele De Palma told Reuters, correcting an earlier FIOM statement which said a delay was "certain" given the current situation.
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2020 outlook withdrawn due to ongoing uncertainty regarding market development
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The proceeds of the investment will be used to consolidate the Business of TG in India by transferring the shares of Toyoda Gosei South India Ltd. (TG SIN) to TG Minda.
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The domestic sales of automaker drop by 40 percent with 26,900 units sold in March.
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The company is also producing reusable face shields within the Chakan factory which will be distributed amongst healthcare providers treating COVID-19 patients.
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Volvo Trucks has recorded sales of 23 units in March 2020 (YTD 1107 units) as compared to 131 units in March 2019 (LYTD 1226 units), representing a decline of 82.4% (YTD decline of 9.7%).
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China requires automakers doing business in the country to follow strict rules covering the production of so-called new energy vehicles (NEVs) as part of a quota system.
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