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Slowdown of Auto Industry and It's Effect on Us

Slowdown of Auto Industry and It's Effect on Us
posted in Slowdown In Auto Industry


Track how the slowdwn in auto industry is going to effect on economy, other industries, jobs and our life.

  • 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



  • 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.



  • 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.



  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • “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.

  • 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

  • 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.