The slowdown of the Auto sector becoming Headache for Carmakers, Now reports of are coming that major carmakers like Mahindra and Tata said on Friday they would cut production at some plants in response to slowing demand that industry executives say has driven the sector into one of its worst downturns. Earlier Tata has also shut down some blocks at its Pune plant in Maharashtra main reason for the shut down the plant “challenging external environment.
Fell of Auto Sector can be seen in the share of Tata Motors and M&M which almost fell between 1.8% and 2.4 %. Due to this shutdown, companies are forced to cut the jobs. Workers who are working in the factories are facing a hard time they can be fired anytime due to slowdown. Government of India should take impotent measures towards the auto sector. India has large get great market in the field of automobiles.
Earlier there was a report, From many days Country’s Auto sector is facing a hard time reports said that India’s passenger vehicles sales slumped 17.54% to 2.25 lakh units in June from 2.7 lakh units in the year-ago period. While domestic car sales fell 24.07 % to 1.39 lakh units as against 1.83 lakh units in June 2018, total two-wheeler sales dropped 11.69% in June to 16.49 lakh units compared to 18.67 lakh units in the year-ago month, according to data released by the Society of Indian Automobile Manufacturers.
There are reports that unsold cars worth Rs. 35,000 countrywide, Dealers across the country are shut down their plants due to the recession in the auto sector country’s major carmakers is also facing hard time country’s largest maker Maruti Suzuki has cut its temporary jobs. As per the reports from the last couple of months, Maruti is facing a tough time Maruti has also faced a decline in its Q1 profit that reported 27.3 per cent year-on-year decline in its net profit at Rs 1,435.50 crore for the first quarter ended June 30, 2019, dented by lower sales volume and higher depreciation expenses.
As festival season is near car dealers hoping and carmakers feel that there would be making some great money many car companies will launch some offers and new models of the car will be launched in markets by the companies it will attract car buyers to buy the cars. That is why Diwali is only hoped for the Auto sector to bring back the joy in the automobile industry.