As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal.
In a meeting with Finance Minister, industry representatives drew attention to challenges faced by the auto industry.
Led by losses in these scrips, the BSE auto index fell 1.07 per cent to close at 16,948.23.
Domestic car sales were down 24.97 per cent to 1,39,628 units as against 1,83,885 units in June 2018, according to data by SIAM.
SIAM said the role of NBFCs is important in vehicle sales as they cater to customers mainly in semi-urban and rural areas.
Commercial vehicle as well as two and three-wheeler manufacturers are united in seeking lower GST on vehicles.
Sales of passenger vehicles dived to 247,541 in April versus 298,504 a year earlier.