The company has taken up community development efforts in 26 villages of Haryana and Gujarat, focused on the areas of water and sanitation, education and community infrastructure.
Some have even reported job losses due to falling sales stemming from a severe liquidity crunch in the non-banking financial sector that has dried up lines of credit to both auto dealers and potential car buyers.
The automobile industry in India is undergoing a crippling slump with nearly all manufacturers reporting a slowdown in sales and job losses due to subdued consumer sentiment amid an economic slowdown.
The commercial vehicle and two-wheeler sales are also significantly negative, indicating that the market has still not responded to various measures initiated by Finance Minister Nirmala Sitharaman last month, said SIAM President Rajan Wadhera.
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