2 lakh auto dealership workers lost jobs in 3 months

According to the Federation of Automobile Dealers Associations (FADA), around 2 lakh automobile dealership employees lost their jobs in the last 3 months.

In the past few months, the auto sector has been experiencing an unprecedented slow down. While sales have slumped, auto dealerships are looking to cut costs by laying off employees.

In the last 3 months, majority of those who lost their jobs were front-end sales workers. However, it is believed that if the slowdown continues, technical jobs might also be affected.

In the 18 month period that ended in April 2019, 286 showrooms in 271 cities were shut down. This is said to have resulted in 32,000 job losses.

According to the Society of Indian Automobile Manufacturers (SIAM) vehicle sales dropped by 12.35% in April-June 2019 compared to the same period last year.

Source: Economic Times