BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

​Auto sector hopes from Dussehra and Diwali to boost up in the selling

Thursday - October 3, 2019 10:37 am , Category : WTN SPECIAL
Historical slowdown continues in auto sector
Historical slowdown continues in auto sector

Recession hits auto sector; the last hope from festivals and government

OCT 03 (WTN) - The impact of the global economic slowdown is being seen all over the world, but the slowdown in India's automobile sector has adversely affected the sale of vehicles for the last one year. The condition of India's auto sector has become such that even after giving many discounts and festival season, the sale of vehicles is very slow. Due to the Ganeshotsav in the month of September, auto mobile companies were hoping that the sales of vehicles would pick up, but even big festivals like Ganeshotsav could not stop the slowdown in the auto mobile sector.

Companies like Maruti, Tata and Mahindra & Mahindra have suffered heavy losses in the month of September. Talk about Maruti Suzuki India, the country's largest car company, the sales of the company fell by 24.4 per cent to 1,22,640 vehicles in the month of September. Maruti Suzuki India sold 1,62,290 vehicles in the month of September last year, but this year the sales of vehicles were reduced to 1,22,640.

Talk about Tata Motors, it has also got disappointed in the month of September. Total sales of Tata Motors vehicles have declined by 48 per cent to 36,376 vehicles in the month of September. For your information, let us know that in the month of September last year, Tata Motors sold 69,991 vehicles. Tata Motors issued a statement informing that the company's total domestic sales fell 50 per cent to 32,376 vehicles in the review period, from 64,598 vehicles in September last year. Domestic sales of passenger vehicles stood at 8,097 vehicles, 56 per cent less than 18,429 units in the same period last year.

At the same time, domestic sales of commercial vehicles of Tata Motors were 24,279 vehicles in the month of September, whereas in the month of September last year, Tata Motors sold 46,169 commercial vehicles. Compared to last year, domestic sales of commercial vehicles of Tata Motors have been reported to be down by 47 per cent.

The global economic slowdown has also impacted Tata Motors' commercial vehicle exports. In September last year, the company exported 5,250 commercial vehicles, but in the month of September this year, only 3,800 vehicles could be exported. That is, the company's commercial vehicle exports decreased by 27.6 per cent over the previous year.

Talk about Mahindra & Mahindra, so Mahindra & Mahindra Company has also suffered the heavy losses due to recession. In the month of September this year, only 43,343 vehicles sold by the company, which is 21 per cent less than September last year.

Automobile industry experts say that due to the ‘Shraddha Paksha’ in the month of September, selling of vehicles has also affected. For your information, let us know that Hindus do not start any auspicious work in ‘Shraddha Paksha’, that is why the sale of vehicles in ‘Shraddha Paksha’ has a negative effect.

But in the midst of all this, the automobile sector has been demanding from the government for a long time that the GST rate on passenger vehicles should be reduced from 28 per cent to 18 per cent to save the sector from recession, so the sector may get some relief which has been affected by the recession badly.

It is clear that low sales of vehicles are impacting the auto mobile industry and related industries and services. Many people have lost their jobs in the auto sector due to recession for the last one year. Not only had this, around 300 dealers had to close their showrooms due to low vehicle sales. At the same time, auto companies had to reduce their production due to recession.

Experts say that this is not the first time that the auto sector is facing a slowdown. Earlier, in 2009-09 and 2013-14, the auto sector has faced a slowdown, but this time the recession is quite different from the previous slowdowns. In the last two recessions, some part of the automobile sector was such that there were selling seen, but this time the entire automobile sector is facing recession.

Experts say that the government should announce relief for the automobile sector at the earliest; otherwise this sector will have to face terrible situation. If this happens, millions of people will have to lose their jobs. However, automobile companies have great hope of selling vehicles in October. Due to festivals like Dussehra and Diwali, automobile companies are hopeful that the impact of the months-long slowdown may subside in the month of October and lead to a jump in vehicle sales. Now let us see what happens well in the month of October to the automobile companies where Dussehra and Diwali to be celebrated.