Delhi, November 11: The auto sector continues to be one of the worst-hit in the economic crisis that has gripped the nation. From job losses, factory shutdown to low sales, companies are struggling on the back of muted demand. The ailing sector showed marginal signs of improvement on the back of festive sales, but not enough to pull the sector out from the crisis.
Society of Indian Automobile Manufacturers (SIAM) data showed that the Indian auto sector's total sales declined by 12.76 per cent to 21,76,136 units in October from 24,94,345 units solder during the corresponding month of the previous year. Experts had earlier predicted that festive season sales would help boost the sector, but the October sales figure doesn't project exciting numbers. Auto Crisis in India Is Due to Bad Planning And Automakers Should Stop Acting as Cry Babies, Says N Srinivasan of India Cements.
There has been a marginal improvement in the sale of domestic passenger vehicles, up 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.