Why Automobile Industry in India is suffering from Slowdown?

The slowdown in one of the economy's biggest sectors is workers assemble a car at an FCA India Automobiles manufacturing facility.  Many industries like steel, cement, electrical equipment, and furniture industry are suffering as a result of the ailing real estate sector. 

The Automobile industry in India has been going through a



tough time for the past 2 years. According to a report from The Society of Indian Automobile Manufacturers (SIAM), the Automobile Industry in India is going through a long-term structural slowdown as the compound annual growth rate (CAGR) across all major vehicles has witnessed a decline over the past 3 decades. 

Automobile Industry India slowdown, is it Coronavirus effect?

As per the study conducted by The Society of Indian Automobile Manufacturers (SIAM) the pandemic is one prime reason that has played a vital role leading to this slowdown but is not the only reason. The compound annual growth rate (CAGR) of the domestic passenger vehicle industry was 12.9% between 1989-1990 & 1999-2000. It dropped to 10.3% between 1999-2000 and 2009-2010, in the last decade it further dropped to 3.6%. 


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