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Automobile jobs at huge risk as truck, four- and two-wheeler sales halve in August


Automobile jobs at huge risk as truck, four- and two-wheeler sales halve in August

In a clear sign of the slowdown in the economy persisting, India’s automakers on Sunday reported their monthly sales numbers, which showed that sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year. Sales of medium- and heavy-duty commercial vehicles (M&HCVs), excluding buses, more than halved in August, as transporters — struggling with excess capacity owing to a slowing economy and consumption slowdown — deferred purchases. The numbers indicate the upcoming festive season may not be enough to revive customer sentiment.

This also led to fears that contrary to automakers’ expectations that car sales have bottomed out, the worst may not be over.

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