A twist of fate haunts the car industry in India after suffering from an all-time low sales turnout. The promising global surge of the Indian car market is now nowhere to be found as fears of layoff loom.
The sales for local passengers in India were down by 31% in July as the Society of Indian Automobile Manufacturers (SIAM) released sales figures on Tuesday.
The decline in sales is now on its 9th straight on a monthly basis.
The Indian car market was poised to become the third largest car market by next year, rallying against market giants China and the US.
Maruti Suzuki had a 36.7% decline while Tata Motors also suffered from 31% decrease. Mahindra hit a 17% fall.
The downward spiral of car sales in India forced a massive layoff. Car companies have cut 15,000 jobs already.
But the decline in the car industry was also felt in the different parts of the world as China and Germany also took a beating in car sales.
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