Reuters earlier this month reported automakers, component manufacturers and dealers had already cut 350,000 jobs.Japanese carmaker Toyota Motor and South Korea’s Hyundai Motor are the latest in a string of companies to briefly halt some parts of production at plants to combat slumping sales, according to company memos to employees, reviewed by Reuters.In a meeting with India’s finance ministry on Aug.Sources have told Reuters that even more companies have now begun to lay off temporary workers as the slowdown worsens. 7, industry executives asked for tax cuts, and easier access to finance for dealers and buyers, in an effort to revive sales.A spokeswoman for Denso said the information was incorrect and declined to elaborate further. Raja, deputy managing director, at Toyota’s India unit, told Reuters that while the company had a flexible production system it had to resort to five no-production days in August to prevent the build up of stock.Bellsonica could not immediately be reached."The industry is deeply concerned with the reality of poor customer sentiment faced by the sector," said Raja, adding he hoped the government would step in to support the industry. 13, told its workers the company would halt production at its plants in Bengaluru in southern India on Aug.

The sales declines have triggered major job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts.Bellsonica, which is part-owned by India’s biggest carmaker Maruti Suzuki and makes fuel tanks and brake pads, has also let more than 350 workers go in Manesar, two sources said.The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. In a separate email, another company official disputed that the firm employed temporary workers at its Manesar plant. 16 and 17 "due to low market demand of vehicles" and high stock of about 7,000 vehicles.New Delhi: With India’s auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, according to sources and documents seen by Reuters. REUTERS/Anushree FadnavisN.Passenger vehicle sales in July fell at the fastest pace in nearly two decades.A Hyundai Motor India spokesman said the company expected sales to pick up in the festive season starting next month and added that the company had not laid off any workers.Denso Corp’s India unit, which makes powertrain and air-conditioning systems for cars, has 404 chainsaw chains cut some temporary workers at its Manesar plant in north India, four sources familiar with the matter told Reuters..Toyota, in a notice dated Aug.Hyundai, in a memo on August 9, also said it would halt production for several days in August across various departments including its engine and transmission shop.

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