The industry has been grappling with regulatory and policy issues, tepid demand and a slowing economy.
Several macroeconomic challenges have dealt blows to the auto sector. Factors such as non-availability of retail finance, liquidity crunch and increased interest rates have dampened demand in the segment.
The Indian automobile industry, which is experiencing one of its worst slumps, saw domestic sales drop by 12 percent year on year in June 2019, while passenger vehicle (PV) sales declined 18 percent.
Moneycontrol's Jerome Anthony gets in conversation with Nitin Agrawal to know more about the burgeoning slowdown in the auto industry.