Brakes On Auto Sales

Auto sector in India has been hit with a major slowdown, with sales falling for straight eight months. The fall in sales in July could be as high as 30%. Auto sales have been hurt by demonetization, higher taxes under GST, and a general slowdown in the economy.

Around 286 dealerships have shut down across the country in the last 18 months. This slump in auto presents a huge challenge to the economy and government as the sector contributes around 7% to the economy and employs close to 35 million people directly or indirectly. With the festive season around the corner, there is that hope the sector will see better days soon. Any views on this? Tell us in the comments below…

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