List of articles tagged: Recession

The auto sector in India is on a roll. According to estimates, the industry will soon cross the 10 million mark. A feat in itself, considering the recessionary period all went through.

Honda Siel Cars India has announced a delay the capacity enhancement and assembly operations in its Tapukara plant, which is based in Rajasthan. Honda had initially planned to increase the capacity for the last quarter of 2009.

With the current global market going through a bad phase, the US car market declined by 37% in November 2008, hitting the lowest in the past 26 years, with the three giant auto makers- General Motors, Chrysler and Ford’s sales figures declining by more than 40%. The current US car market has been adversely hit and a few manufacturers might shut down if this trend continues.  

The global recession has indeed hit the Indian auto industry hard. Tata Motors will for the second time, close its Jamshedpur plant for five days from the 25^th to the 29^th of November, according to company spokesperson, Mr. PJ Singh.