He further said the entire value chain of the auto industry - from component suppliers to vehicles manufacturers and dealers - have been impacted by the slowdown.
"The road for the rest of the year is also looking difficult because there is a huge challenge of migration from BS-IV to BS-VI is awaiting us," Wadhera said.
New technologies coming into vehicle, which has to be done "in a span of three years across all models and have defect free products is a huge challenge", he added.
"On an average an OEM is spending about Rs 1,000 crore to upgrade their product portfolio," Wadhera said.
In order to ensure a smooth transition, he said, "Sales forecasting and operational efficiency has become important on account of the upcoming BS-IV to BS-VI transition".
While the dealers will be managing the front-end, OEMs (original equipment manufacturers) need to ensure that there should neither be loss of sales on account of unavailability of products nor allow inventory build up or write-off which will create more hardships for the dealers, he added.
In the near future, Wadhera said the auto industry will not only have to deal with slowdown and BS-VI transition, but also has "actually prepare for the future mobility" - electric, connected and autonomous.