AUTO IN­DUS­TRY

India Today - - COVER STORY -

Slow­down im­pact Sales fell for eight con­sec­u­tive months to June 2013 be­cause of low de­mand. Buy­ers post­poned pur­chases due to ris­ing in­ter­est on loans, in­fla­tion and ris­ing cost of fuel. Car sales dropped from 2.42 lakh units in Jan­uary 2013 to 1.86 lakh units in July.

Job im­pact 2,500 to 3,000 con­tract jobs lost as M& M, Tata Mo­tors, Ashok Ley­land and Maruti Suzuki laid off staff. For ev­ery auto job lost, at least three an­cil­lary work­ers lose their jobs.

Re­vival kit Lower in­ter­est rates, con­trol in­fla­tion to boost spend.

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