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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

Maruti Suzuki India reports near 33% drop in August sales

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New Delhi: The country’s largest carmaker Maruti Suzuki India on Sunday reported a 32.7% decline in sales at 1,06,413 units in August.

The company had sold 1,58,189 units in August last year, Maruti Suzuki India (MSI) said in a statement.

Domestic sales declined by 34.3% at 97,061 units last month as against 1,47,700 units in August 2018, it added.

Sales of mini cars comprising Alto and WagonR stood at 10,123 units as compared to 35,895 units in the same month last year, down 71.8%.

Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 23.9% at 54,274 units as against 71,364 cars in August last year.

Mid-sized sedan Ciaz sold 1,596 units as compared to 7,002 units earlier.

However, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, rose 3.1% at 18,522 units as compared to 17,971 in the year-ago month, MSI said.

Exports in August were down by 10.8% at 9,352 units as against 10,489 units in the corresponding month last year, the company said.

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