voa标准英语2008-India's Auto Industry Faces Slowdown

India's auto¹ industry is facing a slowdown, prompting many automobile² manufacturers to scale down plans for expansion. Many global automakers headed to India, in recent years, to take advantage of a growing economy.

Some consumers are avoiding expensive loans
　

The 2006 Ford3 Fusion4

Manoj Guha, 48, wanted to upgrade his old car, but put his plans on hold because of a spike⁵ in interest rates, in the last year. He says the global financial crisis has also made him jittery⁶.

"I don't want to take an expensive loan when the job market is so uncertain," Guha said. "I worry about my company cutting back on staff and don't know if I will get a pay hike next year."

As customers like Guha tighten⁷ belts and cut back on purchases, sales of automobiles⁸ are plummeting⁹ for the first time in recent years.

Car sales declining

Sales of cars fell by more than 20 percent in November, compared to the same month last year, and those of heavy commercial vehicles dropped by as much as 60 percent.

The decline comes after three years of steady growth, fueled by a booming domestic economy.

The buoyant market prompted global auto giants such as Hyundai, Nissan and Ford to invest billions of dollars in auto plants in India, to take advantage of an expanding middle class, which was snapping up cars and homes. The companies have made India a manufacturing base for production of compact cars both for the local market and export.

Automakers re-think strategy

But, now, automakers are rethinking their strategy. Some are slamming the brakes on expansion. Others are cutting back on production. Dilip Chenoy is director general at the Society of Indian Automobile Manufacturers.

"Some are cutting down from three shifts to two shifts," Chenoy said. "Some are talking about closing on some parts of the day….Some manufacturers who were already looking at setting up plants, are going in for one line instead of two lines, etc, like that."

Carmakers Nissan and Renault, which plan to open several factories in partnership¹¹ with Indian manufacturers, have scaled down their projects. Hyundai also plans to cut production and reduce the number of shifts at its factory in Southern India. Several local companies have also cut production, to avoid building up unsold stock.

It is not just the domestic market that is hit. Automakers are also facing a slump¹² in exports, because of the financial crisis in Europe, which is the main market for auto manufacturers in India.

Industry analysts¹³ expect sales to pick up in 2009

Analysts say the slowdown in the industry will be temporary and expect sales -- both at home and overseas -- to bounce back in about a year. They say banks have started cutting interest rates and customers will flock back when credit becomes cheap. They also hope that consumer confidence will revive, if the Indian economy grows by seven percent this year, despite the global slowdown.

In fact, Chenoy says, the financial crunch¹⁴ could offer a silver lining¹⁰ to the Indian auto industry, as demand is expected to grow all over the world for low-cost, compact cars.

"We do have a slight advantage because we kind of produce and market the products people are looking for in time of recession, small cars, highly fuel-efficient two wheelers, economical, cost effective, meeting the regulations that are in place in different countries," Chenoy said.

Analysts say projections¹⁵ that the Indian auto industry will grow from $35 billion, at present, to $145 billion by 2016 still hold good. In fact, they say at a time when global automakers are facing huge problems in their home markets, they may still rake in some profits here -- although not as large as expected earlier.

1 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

2 automobile   

n.汽车，机动车

参考例句：

• He is repairing the brake lever of an automobile.他正在修理汽车的刹车杆。
• The automobile slowed down to go around the curves in the road.汽车在路上转弯时放慢了速度。

3 Ford   

n.浅滩，水浅可涉处；v.涉水，涉过

参考例句：

• They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
• If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。

4 fusion   

n.溶化；熔解；熔化状态，熔和；熔接

参考例句：

• Brass is formed by the fusion of copper and zinc. 黄铜是通过铜和锌的熔合而成的。
• This alloy is formed by the fusion of two types of metal.这种合金是用两种金属熔合而成的。

5 spike   

n.长钉，钉鞋；v.以大钉钉牢，使...失效

参考例句：

• The spike pierced the receipts and held them in order.那个钉子穿过那些收据并使之按顺序排列。
• They'll do anything to spike the guns of the opposition.他们会使出各种手段来挫败对手。

6 jittery   

adj. 神经过敏的, 战战兢兢的

参考例句：

• However, nothing happened though he continued to feel jittery. 可是，自从拉上这辆车，并没有出什么错儿，虽然他心中嘀嘀咕咕的不安。 来自汉英文学 - 骆驼祥子
• The thirty-six Enterprise divebombers were being squandered in a jittery shot from the hip. 这三十六架“企业号”上的俯冲轰炸机正被孤注一掷。

7 tighten   

v.(使)变紧；(使)绷紧

参考例句：

• Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
• Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

8 automobiles   

n.汽车( automobile的名词复数 )

参考例句：

• When automobiles become popular,the use of the horse and buggy passed away. 汽车普及后，就不再使用马和马车了。 来自《简明英汉词典》
• Automobiles speed in an endless stream along the boulevard. 宽阔的林荫道上，汽车川流不息。 来自《现代汉英综合大词典》

9 plummeting   

v.垂直落下，骤然跌落( plummet的现在分词 )

参考例句：

• Prices are rising, falling, going up, going down, shooting up, plummeting, etc. 物价在上涨、下跌、上升、下落、猛然上涨、骤然下跌等。 来自辞典例句
• The enemy plane went plummeting into the sea. 敌机直直掉进海里。 来自辞典例句

10 lining   

n.衬里，衬料

参考例句：

• The lining of my coat is torn.我的外套衬里破了。
• Moss makes an attractive lining to wire baskets.用苔藓垫在铁丝篮里很漂亮。

11 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

12 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

13 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

14 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

15 projections   

预测( projection的名词复数 )； 投影； 投掷； 突起物

参考例句：

• Their sales projections are a total thumbsuck. 他们的销售量预测纯属估计。
• The council has revised its projections of funding requirements upwards. 地方议会调高了对资金需求的预测。