Lockdown Due to COVID-19 Slow Down Automobile Sales: Forecasting Using Data Mining

  • Gyaneshwar Mahto, Umesh Prasad, Rajiv Kumar Dwivedi,

Abstract

In this article, sales forecast models for the automobile industry  are developed and tested. Lockdown due to Covid-19 affects whole the world, India is one of them suffering from this problem. Many celebrity, industrialist and people are donating to fight against Covid-19. Finance minister Nirmala Sitaraman announced package to face this problem. PM Narendra Modi announced 21 days lockdown after one day ‘Janta Carfew’ later lockdown extended till 3rd May 2020. PM Shri Narendra Modi ask to support people to help Government to fight against Covid-19 and PM Care Fund account detail is provided to donate, which is tax free. Any one can donate in this fund even micro donation is accepted. It is seen also many local organization like ‘Ek Sankalp Snastha’  and ‘Ek Hath Garibo ke liye’ served at villages at Nagri, Ranchi in this disaster. We should be very thankful to Corona Warriors (Doctors, Nurses, Police, Army, Cleaning Staffs). Our Prime minister announced to welcome and encourage Corona Warrior By Clapping, Ringing plate, bell etc. To boost up and for Unity Candle and Diya were lighted and people of India Came together to fight against Covid-19.The novel coronavirus, or COVID-19, pandemic has spread across 185 countries and territories. Confirmed COVID-19 cases in India stand at 18,601. The death toll from the outbreak in India is at 590. Maharashtra, Delhi and Tamil Nadu have reported the highest number of cases. Globally, over 2 million cases of COVID-19 infections have been reported, with 1,70,324 people having lost their lives, according to the World  World Health Organisation's (WHO) latest update till 18 April 2020. The United States has the highest number of confirmed cases, followed by Spain, Italy, France and Germany. The outbreak continues to have a major impact on the global economy[1].Automobile industry is one of the major market that affect the economy globally. In India Automobile Industry was growing from last few years but now it is supposed to the sales of automobile may be slowdown for coming few years. In this article sales of automobile after lockdown is forecasted. Enhanced sales forecast methodologies and models for the automobile market are presented. This study presents a singular spectrum analysis (SSA) as a univariate time-series model and vector autoregressive model (VAR) as a multivariate model. In this article we predicted in both short term (up to December 2020) and long term (up to 2021), as proofs of the growth of the Motor Vehicles  industry.

Published
2020-05-03
How to Cite
Gyaneshwar Mahto, Umesh Prasad, Rajiv Kumar Dwivedi,. (2020). Lockdown Due to COVID-19 Slow Down Automobile Sales: Forecasting Using Data Mining. International Journal of Advanced Science and Technology, 29(9s), 708 - 716. Retrieved from https://sersc.org/journals/index.php/IJAST/article/view/13268