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India autos slash jobs and showrooms as sales drop 31% in July

Credit crunch triggers nine straight months of decline

Workers assemble a Tata Tiago car inside the Tata Motors car plant in Sanand, on the outskirts of Ahmedabad, India.   © Reuters

MUMBAI/NEW DELHI -- Indian automakers have cut about 345,000 jobs in recent months as showrooms have closed and passenger car production has been slashed amid the industry's worst slump in nearly two decades.

Sales of passenger vehicles sank 31% on the year in July to 200,790 units, marking the ninth straight month of declines, data issued Tuesday by the Society of Indian Automobile Manufacturers showed.

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