Automobile sector fights decade worst slowdown in sales

This Year Automobile sector is facing slowdown in the market  but still automobiles companies are trying hard & making lots of efforts  to stay in the market, they are doing production cut, reduction in staffing requirements and costs, along with opening up of new markets and increasing localization.

Maruti Suzuki has planned to move on rural mission as going gets tougher in Indian Auto market they are planning to reach almost 1 lakh villages to boost sales. Volkswagen has added new markets in Malaysia Mexico and Taiwan ro raise the downfall in the domestic market. They are also reviewing its investment plans for India

Toyota Kirloskar has started operating its plant in single shift and opted eight production holidays for a month. Tata Motors and Mahindra & Mahindra have had to develop new petrol engines with diesel run vehicles to increase their sales more than 95 percent. Hyundai Motor has started production according to the demand of Domestic and overseas market.

Rakesh Srivastava, senior VP, sales & marketing, Hyundai Motor India, Said this is the most  challenging time I have seen in my career, we have had to make some quick decisions. Company was keep trying to increase the sales of domestic market, we have pushed volumes to overseas market to increase up slowdown in Indian Market.

Some of the reasons have slowdown the growth of Indian Auto Industry they are High Interest rates and Fuel price hike. Diesel prices have gone up by 11 times, leading to a increase of Rs 6.62 since January.Discount and gifts offers have not increased up sales either. This fiscal, sales of Tata Motors' dipped by 35%, M&M's by 13%, Nissan by 43%, Toyota by 23% and Skoda by 42%.