The auto industry has been facing strong headwinds amid a slowing economy due to multiple factors -- liquidity crisis, high fuel prices, changes in axle load norms and BS-VI transition -- all leading to weak consumer sentiments and subdued demand across segments.
The company's total retail sales for the quarter ending March 31 were 1.09 lakh vehicles, down 30.9 per cent compared to the same period last year.
The year 2019-20 has been a year of unprecedented disruption for the automotive sector, said company's Chief Commercial Officer Felix Brautigam.
The standalone revenue for the quarter decreased by 33 per cent to Rs 10,800 crore, the company said in a statement.
In March, a subsidiary of transportation component major Motherson Sumi Systems acquired assets of Bombardier Transportation (Rolling Stock) UK Ltd for production and installation of electrical components and systems in the rail industry.