Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...

-The Hindu Total vehicle retail sales continue to be on the decline. Total vehicle retail sales in the country continued to decline year-on-year in September 2020, even as passenger vehicle registrations turned positive for the first time since March growing at 9.81% during the month, as per data from the Federation of Automobile Dealers Associations. Total vehicle registrations fell to 13.44 lakh units in September 2020, down 10.24% from about 14.98 lakh units...

-PTI Job cuts may affect technical staff too, says dealers’ association Around two lakh jobs have been laid off across automobile dealerships in the country in the last three months as vehicle retailers attempt to tide over the impact of the unprecedented sales slump, according to industry body FADA. With no immediate signs of recovery, the Federation of Automobile Dealers Associations (FADA) fears that the job cuts may continue with more showrooms being...