A few days ago, the wheels of the auto sector began to slack, and now they seem to have come down from the expressway at speed and are on a rough path of complete recession. The reports are coming through data from industry watchdog agencies or by big car companies. Every news is bad, intimidating. To say that Mandasur has opened his mouth. The first major sacrifice is the auto sector. Perhaps that is why the government has now assured automobile manufacturers that the GST Council will try to persuade the GST Council to keep the rates on auto components uniform.
We want to tell you that the recently revealed Society of Indian Auto Manufacturers (SIAM) figures show that sales of cars have slipped somewhere during January to July. The drop in sales has hit every car maker. Maruti, the country's largest car company, has seen a loss of a third in sales. In January, the company sold 1.42 lakh cars, up from just 98 thousand in July. A similar impact was seen on the sales of the rest of the companies. Honda has also suffered a huge loss. In January, when the company handed over the keys to 18,261 vehicles to customers, the figure declined to 10,250 in July.
Tell us for your information that 19 years ago it happened only in the year 2000. Never after that again. But, this year it's done. Sales figures in the auto sector in July 2019 are at 18.25 lakh vehicles. In July 2018, the figure was 22.45 lakh vehicles. i.e. a big drop of 18.71 per cent straight. This is the biggest decline of the past two decades. Which is enough to tell that the circumstances are not very good. If the slowdown measures are not taken soon, the auto sector alone could have 7 to 10 lakh people retrenched in the next three months.
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