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 Bharat Cleantech Manufacturing Platform
- 2 Five New Industrial Clusters from India join WEF Initiative
- 3 Logistics Ease Across Different States (LEADS) 2024 Report
- 4 Team Initiative:Boosting Digital Commerce for MSMEs
- 5 Diamond Imprest Authorization Scheme
- 6 National Critical Minerals Mission
- 7 Mutual Credit Guarantee Scheme for MSMEs
- 8 National Manufacturing Mission
- 9 Financialisation of the Economy
- 10 Undercapitalization of Indian Debt Market
