New Delhi: The country's worst economic condition has hit the auto industry. A lot of jobs have been lost in this sector in the past few years. Maruti Suzuki India, the automobile sector's giant and the country's largest carmaker, has made a positive statement about the future conditions of the auto industry. It says the country's auto industry, which is reeling under recession due to rising demand for passenger vehicles during the festive season, will pick up momentum again, whether the government will help it or not.
A senior company official said that concerns about the monsoon and election were the main reasons for the slowdown in vehicle sales, but now there will be demand from rural markets, especially among the companies, amid new models coming into the market and offering attractive offers on them. Shashank Srivastava, Executive Director (Marketing & Sales) of Maruti Suzuki India, said, "Whether the government will help the industry, when and how much assistance we will provide, how much it will help now, or we do not want to do so later on."
We're just trying to keep your stance more creative. He said the auto industry is asking the government to reduce the GST rate on vehicles from 28 percent to 18 percent as a relief package. Several companies have made tremendous layoffs due to the decline in sales.
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