This article is about india's automobile sector. In india's GDP the contribution of automobile sector is 7.5%. And the contribution of automobile sector is 49% in india's total manufacturing sector.
Then you surely understand how much important the automobile sector is for india's economy. If we see on the basis of employment automobile sector gives about 1 crore jobs to people.
From some past time there was going slowdown in automobile sector in india. Some companies of this sector have face the problem and many of this stopped their function.
So this article covers the reason behind slowdown in automobile sector in india and the Finance Minister said that indian uses OLA,UBER most than buying automobiles
Is it really true the reason that she said? And we try to understand the automobile sector fully and also the current condition of automobile sector.
In August 2019 according to data the sales of passenger vehicles was fell 31.57% from last years. It was the bad performance of last 22 years. For this bad time companies fired many employees.
And many companies declared production holiday because the selling rate of car was decreased and the cars that already ready to sell was made bound to store in the companies.