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India’s Automobile Dealers Expect Partial Turnaround Leading to Job Regeneration

At present, the sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints

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India, Automobile, Dealers
The sector has witnessed around 2 lakh job losses due to the sales slowdown. Pixabay

Faced with a consumption slowdown along with the high cost of finance, the country’s automobile dealers expect a partial turnaround during the upcoming festive season which will also lead to job regeneration.

The sector has witnessed around 2 lakh job losses due to the sales slowdown.

At present, the sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints.

Besides, inventory pile-up and stock management of unsold BS-IV vehicles have become a problem for the sector.

India, Automobile, Dealers
Faced with a consumption slowdown along with the high cost of finance, the country’s automobile dealers expect a partial turnaround during the upcoming festive season. Pixabay

“We are seeing some recovery in the jobs that were lost,” Federation of Automobile Dealers Associations (FADA) President Ashish Harsharaj Kale told IANS.

“We hope the festive season will be better in terms of sales and this will have a positive effect on job recovery.”

Additionally, the industry body expects the latest government measures to kick-in and reverse the ongoing slowdown.

To help revive the sector, Finance Minister Nirmala Sitharaman has announced several steps.

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These includes allowing government departments to buy new vehicles, automobiles purchased till March 31, 2020 to avail the benefit of additional depreciation of 15 per cent, with total depreciation up to 30 per cent, and BS-IV vehicles bought till March 31, 2020 would remain operational for their entire registration period.

On Sunday, almost all major automobile makers in the country reported a huge decline in domestic sales across segments like passenger, commercial and two and three-wheeler vehicles. (IANS)

Next Story

Samsung India Unveils New Smartphone “Galaxy A51” For Rs 23,999

The Galaxy A51 also comes with a long-lasting battery that lasts for up to 19 hours of video play back time

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Samsung
According to the company Samsung, the Galaxy A51 is the first-ever in Galaxy A series to sport an Infinity-O display. Pixabay

Samsung India on Wednesday launched the Galaxy A51 (6GB+128GB) in the country for Rs 23,999. The smartphone comes with the company’s signature Infinity-O Super AMOLED display.

Galaxy A51 will be available in Blue, White and Black Prism Crush colours, starting January 31 across retail stores.

“The success of Galaxy A embodies our philosophy of bringing meaningful innovation to all our consumers. Galaxy A51 takes this legacy to the next level with its camera, screen and long lasting battery — features that will excite our young consumers,” Aditya Babbar, Director, Mobile Business, Samsung India, said in a statement.

According to the company, the Galaxy A51 is the first-ever in Galaxy A series to sport an Infinity-O display.

The device features an advanced 48MP main camera, 12MP Ultra Wide lens with “Night Mode” capability and a 5MP Macro lens that allows users to take close up shots and a 5MP depth camera for clicking shots in “Live Focus” mode.

The Galaxy A51 is powered by a 10nm Exynos 9611 chipset that comes with AI powered Game Booster for improved frame rate and stability as well as reduced power consumption.

Samsung
Samsung India on Wednesday launched the Galaxy A51 (6GB+128GB) in the country for Rs 23,999. The smartphone comes with the company’s signature Infinity-O Super AMOLED display. Wikimedia Commons

The Galaxy A51 also comes with a long-lasting battery that lasts for up to 19 hours of video play back time, according to the company, thanks to the 4000mAh battery with 15W fast charging.

This feature makes SMS come ‘Alive’ by identifying messages that are most useful to the user and organizing them neatly in the form of visual cards such as Reminders and Offers. The Useful Cards feature helps reduce clutter in the SMS Inbox and lets consumers find useful information quickly and easily.

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The company will launch the 8GB/128GB variant later. (IANS)