SLUMP in Automobile Industry

There are cyclical slowdowns in many economies. 11.7 million vehicles (all categories) were sold in this year as against 14.1 million vehicles during April – September of 2018. But the festival demand has shown year on year growth at 0.3% in the Passenger Vehicle Segment.

The Government, as a policymaker, always attempts to keep and improve momentum of the economy through a package of measures for comprehensive and continued development of the industry as and when required.

This information was given by the Minister of Heavy Industries & Public Enterprises, Prakash Javadekar, in a written reply in the Rajya Sabha today.