Slump in automobile market claims 2 lakh jobs: SIAM

摘要

The longest period of slump in India's automobile market, with sales declining for a second straight year, has taken its toll with production cuts leading to the loss of about 2,00,000 jobs, according to the Society of Indian Automobile Manufacturers. "Last year was one of the most difficult periods for the auto industry," said Vikram Kirloskar, the president of SIAM, who is also the vice-chairman of Bangalore based automaker, Toyota Kirloskar Motors. "I personally feel that across the entire value chain in the auto industry, right from raw materials to the dealerships there could be around 1.5-2 lakh job losses."