 "GST, goods and services tax")
Car sales are a good indicator of economic health. Buying a vehicle is a big-ticket expense. The auto industry has a very long value-chain. Automobile manufacturing drives demand for primary metal miners, plastics, electronics, forgings, cables, rubber, etc. Since manufacturers are basically assemblers, there is a large ecosystem of OEM suppliers.
The industry also generates activity in marketing, advertising, and finance, as well as repair and maintenance. Apart from generating high employment, auto manufacturing is capital-intensive and rate-sensitive. Holding inventory is expensive, and almost all sales are equated monthly instalment-based. So there's a big impact on the financial industry.
Almost
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