Automobile sector slowdown: 286 dealers closed down in 18 months, 32,000 jobs impacted.

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Slowdown in the automobile industry has resulted in 286 dealers winding up operations across India. This has affected 32,000 jobs. A big chunk of the closure was reported in urban and semi-urban markets and mostly in the car segment.

According to the Federation of Automobile Dealers Associations (FADA), the apex automobile retail industry body, the closure was reported in 18 months, ending April 2019.

The worst-hit is the passenger car segment. Maharashtra leads with 84 closures, followed by Tamil Nadu.

Source: Business Standard