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2 Lakh jobs cut in Automobile sector

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New Delhi: Federation of Automobile Dealers Association (FADA) claims that around 2 lakh jobs will be cut across Automobile Industry in last 3 months. “The majority of job cuts have happened in the last three months. It started around May and continued through June and July,” FADA president Ashish Harsharaj Kale.

With no immediate signs of recovery, FADA says that more jobs may have to be cut down because of constant shutting down of the Automobile Dealership centers. The main reason behind this is the cut down of sales in past three months.

According to Ashish Harsharaj, the two lakh jobs cuts in the last three months are over and above the 32,000 people who lost employment when 286 showrooms were closed across 271 cities in the 18-month period which ended in April this year.

Around 2.5 million people were employed directly through around 26,000 automobile showrooms operated by 15,000 dealers. Another 2.5 million are indirectly employed in the dealership ecosystem, Ashish added.

As per Society of Indian Automobile Manufacturers (SIAM) figures, vehicle wholesale across all categories declined by 12.35% to 60,85,406 units in April-June against 69,42,742 units in same period of last year. Passenger vehicles (PV) segment has been the worst hit with sales continuing to decline for almost a year now. In July, market leader Maruti Suzuki reported a 36.3% drop in its domestic PV wholesales, while Hyundai saw a dip of 10%. M&M sales were down 16%, Tata Motors’ PV sales fell 31% while that of Honda Cars India Ltd (HCIL) also came down 48.67% during the month.

Automobile

Improved version of Hyundai Creta launched in Indian market: Check it out here

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Hyundai India launched the much-awaited Creta Knight Edition in the country at a starting price of Rs 13.51 lakh (ex-showroom, all-India). This new variant is available in both petrol and diesel engine options and can be had either with a manual or an automatic transmission unit. To read more about the Creta Knight Edition, click here. In addition to this, the company has also introduced a model-year update for the Hyundai Creta with new feature additions.

The 2022 Hyundai Creta is now available in a new Denim Blue colour option and the Highline TPMS is now standard across all variants. The SX (O) trim now also gets a glossy black centre console. Furthermore, the company will offer the iMT option on the 1.5-litre petrol ‘S’ variant to further expand choices for the customers. The new S+ variant powered by a 1.4-litre T-GDi petrol engine with 7DCT now gets an additional set of features, such as –

– Smart panoramic sunroof

– 16-inch black alloy wheels

– Smartphone wireless charger

– Rear Disc Brakes

– Electronic Stability Control (ESC)

– Vehicle Stability Management (VSM)

– Hill start assist control (HAC)

– Paddle shifters

– Metal pedals

– Electric and auto-folding ORVMs

– Power window auto up/down

Mechanically, the SUV continues to be powered by the existing petrol and diesel engine options.

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