The industry hopes that the economy would finally come out of the slump, drawing people back to the showrooms.

This led to a job loss of around 1 lakh temporary workers till July this year, industry body ACMA said.

Maruti Suzuki said it would take at least few more months to get clarity if the industry is finally on a revival path.

We clearly tried to revive the market but we cannot have high level of promotions at all the time, said MSI's Shashank Srivastava,

It is a big structural issue that we will have to go through...Affordability is the real problem, said Toyota Kirloskar's Vikram Kirloskar.

At present, 60 per cent of auto components are taxed at 18 per cent.

There is no slowdown in automobile sector. They are saying this to get a package from government, said CAIT's Praveen Khandelwal.

The government is putting all the efforts to bring the London transport model.

Maruti reported a 33 per cent drop in August sales at 1,06,413 units.

Automakers, component manufacturers and dealers had already cut 350,000 jobs.