Crisis in the Automobile Industry
The automotive industry has been facing a slowdown in India. As per Society of Indian Automobile Manufacturers (SIAM) data, there was a 26% dip in car sales in May 2019 versus last year, and consequently a nearly 8% fall in overall vehicle production. The current sales of vehicles have been the lowest in the last 19 years while the leading automobile manufacturers announced a sharp decline of up to 50% in their domestic sales in July 2019.
Effect of Automobile Crisis
- Large Scale Layoffs: It is estimated that automakers, auto part manufacturers, and dealers taken together have laid off about ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Minimum Alternate Tax (MAT)
- 2 Sovereign Gold Bond (SGB)
- 3 Indian Textile Sector
- 4 RBI Issues Draft Revised Guidelines for Lead Bank Scheme
- 5 Agriculture Infrastructure Fund (AIF)
- 6 Gold Exchange Traded Funds (ETFs)
- 7 Liberalised Remittance Scheme (LRS)
- 8 RBI Simplifies the Voluntary Retention Route
- 9 Miniratna Status for Yantra India Limited
- 10 Demwe Lower Hydel Project
