Track how the slowdwn in auto industry is going to effect on economy, other industries, jobs and our life.
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Bosch likely to cut around 2,000 jobs
Business Standard [4 years ago]
Bosch likely to cut around 2,000 jobs in India amid auto sales slump
Carmakers will shed 80,000 jobs across the world in the coming years
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India cannot achieve $5 trillion economy with slowing automotive industry
Economic Times [4 years ago]
India cannot achieve $5 trillion economy with slowing automotive industry
Industry captains said the auto sector needs double-digit growth if the government wants to attain $5 tn goal.
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About 1 lakh lost jobs in auto sector due to slowdown
Deccan Herald [4 years ago]
About 1 lakh lost jobs in auto sector due to slowdown
Workers retrenchment has taken place from October last year till July 2019, he claimed.
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TVS Motor Q2 profit may drop 27-36% YoY on slowdown in auto sector
Economic Times [4 years ago]
TVS Motor Q2 profit may drop 27-36% YoY on slowdown in auto sector
Kotak Institutional Equities expects TVS Motor to report a 27.4 per cent year-on-year (YoY) drop in net profit.
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Passenger vehicle sales decline by 24%, commercial by 62%
INDIA TODAY [4 years ago]According to SIAM data, passenger vehicle sales dropped to 2,23,317 units in September from 2,92,660 a year ago while passenger car sales dropped by 33.4 per cent to 131,281 units compared to the same period in 2018.
Bad news for Auto sector: Passenger vehicle sales decline by 24%, commercial by 62%
Auto sector of India continues to be in recession due to weak consumer demand. SIAM data for September show that while decline in passenger vehicle sales was about 24 per cent that in commercial segment was whopping 62.11 per cent.
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Slowdown effects more pronounced in India: IMF
The Hindu [4 years ago]The largest emerging market economies like India are experiencing an even “more pronounced” effect of the global downturn, new International Monetary Fund (IMF) chief Kristalina Georgieva said on Wednesday, warning that the global economy is witnessing “synchronised slowdown” which will result in slower growth for 90% of the world this year.
Slowdown effects more pronounced in India: IMF
International Monetary Fund chief Kristalina Georgieva warns of slower growth for 90% of the world this year.
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Maruti Suzuki cuts production for 8th consecutive month in September
Business Today [4 years ago]The prolonged decline in sales, for the eleventh consecutive month, has forced Maruti Suzuki India to cut its production by 17.48 per cent in September, making it the eighth straight month it has reduced its output.
Auto slowdown: Maruti Suzuki cuts production for 8th consecutive month in September
The prolonged decline in sales, for the eleventh consecutive month, has forced Maruti Suzuki India to cut its production by 17.48 per cent in September, making it the eighth straight month it has reduced its output.
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Mahindra offers discounts up to Rs 52,000, Tata up to Rs 1.5 lakh
Money Control [4 years ago]The Indian automobile sector has been witnessing a slowdown for some months now. Amid the ongoing slump, various automakers are resorting to discounts on certain models to lure customers ahead of this festive season.
Auto slowdown effect: Mahindra offers discounts up to Rs 52,000, Tata up to Rs 1.5 lakh
While Tata Motors is offering a discount of upto Rs 1.5 lakh on a limited set of its models, Mahindra isn't far behind, with discount offers of upto Rs 76,500 on its product range.
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Workers Hit Hard By Ashok Leyland's Shutdown
NDTV [4 years ago]Ashok Leyland's combined sale declined by 50 per cent in August with a total sale of 8,296 vehicles against 16,628 vehicles sold in August last year.
Workers Hit Hard By Ashok Leyland's Shutdown
Ashok Leyland's combined sale declined by 50 per cent in August with a total sale of 8,296 vehicles against 16,628 vehicles sold in August last year.
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Auto industry may shed 500k jobs next quarter
Economic Times [4 years ago]“The vehicle industry is witnessing de-growth, resulting in 100,000 job losses in the component sector over the last few months. Should this trend persist for another 3-4 months, it could lead to 1 million job losses,” Vinnie Mehta, director general Automotive Components Manufacturers Association of India (ACMA).
Auto industry may shed 500k jobs next quarter
Tier II-III companies with a turnover of less than Rs 400 crore are bleeding the most.
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The Automobile Sector Slowdown Affected The Steel Industry?
Goodreturns [4 years ago]As carmakers started reducing their production to cut costs, it will also affect automotive steel makers like Tata Steel and ArcelorMittal. Read more at: https://www.goodreturns.in/news/2019/08/09/how-has-the-automobile-sector-slowdown-affected-the-steel-in-1013880.html
How Has The Automobile Sector Slowdown Affected The Steel Industry?
Domestic carmakers in the country are battling a drop in sales amid a slowdown in the economy. People are buying lesser cars, slowing down the revenue of automobile industry that contributes 7.5 percent to Indias GDP. This slowdown was bound to affect the
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10-15% people lost jobs in auto component industry
Zee Biz [4 years ago]Due to the prolonged slowdown in auto sales since September 2018, automobile component manufacturing sector has already witnessed 10-15% loss in employment,
Auto Sector slowdown: 10-15% people lost jobs in auto component industry
Due to the prolonged slowdown in auto sales since September 2018, automobile component manufacturing sector has already witnessed 10-15% loss in employment, as growth in revenue for companies in the sector slow down significantly.
