Automobiles continue to slide

With car sales in India falling for a record ninth month in a row in July posting a 7.4 per cent decline and that of heavy and medium commercial vehicles dipping for 17th month in succession, industry body Society of Indian Automobile Manufacturers (Siam) on Monday said the auto sector had started retrenching temporary workers.

Siam Director General Vishnu Mathur said in the wake of the continuous decline in automobile sales, Siam had sought a stimulus package, including reduction in excise duty, fleet modernisation and an end to a ban on new government vehicle purchase that has been on since May last year.