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Economic slowdown hits the automobile industry causing 30% decline in sales

Due to the economic slowdown occurred as a result of measures initiated by Finance minister of India this year, the automobile industry has faced a serious slump, as a result of which, Maruti Suzuki has decided to shut down the production in their Gurugram and Manesar unit on 7th and 9th September. A 39% decline in sales of passenger vehicles has also been reported in 2019 by the automobile market leaders.