Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning - not a single customer was in sight.
"There used to be close to 15-20 bookings each day, but now we're down to 3-5 on good days," said Gharpure, the general manager at the dealership.
Gharpure's experience is not an isolated one. Across India dealerships are being pushed out of business and the Indian auto sector is going through its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% - the sharpest recorded fall in 18 years.
Preliminary data indicates passenger vehicle sales may have plunged as much as 30 percent in July. The slump in India, along with a simultaneous slide in Chinese auto sales, is a blow for automakers wrestling with higher costs driven by more stringent emission norms and a push to develop electric cars.
Unlike in China, where the plunge in cars sales has been caused largely by new emissions rules, India has seen a mix of factors that have combined to erode demand for automobiles.
Prime Minister Narendra Modi's 2016 ban on high-value bank notes, higher tax rates under a new goods and services tax regime, a boom of ride-sharing firms such as Uber and Ola, and a weak rural economy have all played a role.
But many dealers and automakers agree it is a deepening liquidity crunch among India's shadow banks that has been the biggest single factor in an auto sales collapse, which some fear may lead to more than a million job losses.
Non-banking finance companies (NBFCs), or shadow banks, have dramatically slashed lending following the collapse of one of the biggest, IL&FS, in late 2018.
IL&FS, or Infrastructure Leasing & Financial Services Ltd, was a behemoth in shadow banking and its defaults and unravelling, amid fraud allegations, have dried up funding for rivals and led to a surge in their borrowing costs.
Non-bank or shadow banking firms generate credit outside traditional lenders, by means such as collective investment vehicles, broker-dealers or funds that invest in bonds and money markets.
In India, NBFCs have in recent years helped fund nearly 55-60 per cent of commercial vehicles both new and used, 30 per cent of passenger cars and nearly 65 per cent of the two-wheelers in the country, according to rating agency ICRA.
To aggravate matters, the stress in the autos market has also prompted banks to begin trimming their exposure to the sector.
"The car doesn't sell, it's the finance that sells," said R. Vijayaraghavan, a senior marketing consultant at the same Mumbai dealership. "Today the finance is not selling, so the cars are not selling."
PROBLEMS AMPLIFIED
Some 286 dealerships have shut down in the last 18 months across India as rising costs for inventory management have made businesses unviable, according to the Federation of Automobile Dealers Association (FADA), a lobby group of auto dealers.
"The slowdown in the (NBFC) sector has dragged down vehicle sales growth," said A.M. Karthik, financial sector head at ICRA. "Now the auto slowdown is becoming more visible as the liquidity squeeze continues."
Automakers including Maruti Suzuki, Tata Motors , and Mahindra & Mahindra are feeling the heat and have either cut production or temporarily closed plants to correct mounting stocks.
According to FADA data, passenger vehicle inventories now stand at 50-60 days up from around 45 days earlier, while those of two-wheelers are even higher at 80-90 days. For commercial vehicles, inventory levels range between 45 and 50 days.
"We are asking dealers to maintain an inventory of 21 days, which is almost half of the current levels," said Ashish Kale, president of FADA.
At least four dealers from different brands said, however, there was little scope to reduce inventories as automakers were pushing them to buy stock despite there being no demand even with heavy discounting and other sops on offer.
While 70-75 per cent of car sales were previously financed in-house by NBFC or bank agents sitting at a dealership, that has fallen to about 50 per cent, say dealers, as buyers struggle to qualify under more stringent lending norms put in place by lenders that are under pressure to shore up their books.
Moreover, as many NBFCs typically lent to less creditworthy clients, banks are reticent to rush in to fill the void, as they themselves struggle to cope with an existing pile of about $150 billion in bad loans.
"The banking sector is certainly one of the factors that has affected the growth of the industry," said R.C. Bhargava, chair of Maruti Suzuki, noting interest rates for car buyers have gone up in the last 12 months despite the central bank cutting rates.
EARLY RECOVERY UNLIKELY
With the autos sector employing more than 35 million people directly and indirectly, and contributing more than 7 per cent to India's GDP and accounting for 49 per cent of its manufacturing GDP, the fallout from the autos slump is huge and presents a big challenge to Prime Minister Narendra Modi's government as it begins its second term.
The entire supply chain, from vehicle manufacturers to component makers, are bleeding amid the slump.
"I've been making my payments for the last 30 years and the lenders know me," said Adarsh Gupta, the director of finance at Autolite (India), a component manufacturing firm. "But even a two-day delay has people crying that I will default.
"I too want to pay, but because of the fall in cashflows I'm facing short-term issues and because of that it's difficult to get more financing. This is the vicious cycle we are in."
Still, automakers are hopeful of a recovery in the months ahead, helped by the September-December festive season that traditionally sees a surge in consumer spending.
"One can only wish that things improve sooner rather than later. With festive demand starting to seep through, we should start seeing a gradual improvement in sales," said P.B. Balaji, group CFO at Tata Motors.
Analysts are more sceptical though, and say without vehicle financing becoming cheaper and easier the chances for that are low. With no silver lining in sight, analysts fear bad debts could mount in the auto sector, forcing banks to further reduce their exposure.
"We see market prices and sales coming down so there may be issues," said a top official at the Indian Banks' Association. "We could see a spillover in terms of bad loans for the overall sector, but we are going to wait and watch."
Dealers said they were hopeful of tiding over the current downturn as the broader growth story for India remains intact, but there could be a lot more pain before a recovery kicks in.
"The future is going to be multi-brand car showrooms," said marketing consultant Vijayaraghavan. "That is the only way for dealerships to survive going forward as overhead costs need to be shared."
Bella Thorne accuses Charlie Puth of sparking a ‘hate train’ after she turned him down.
She claims he publicly misled fans about their brief romance in 2016.
Puth had previously implied she cheated on her ex Tyler Posey with him.
Thorne is now engaged to Mark Emms; Puth married Brooke Sansone in 2024.
Actor Bella Thorne has reignited a years-old controversy with singer Charlie Puth, accusing him of turning public opinion against her in 2016 after she refused to sleep with him. The former Disney star made the claims in an Instagram comment responding to singer Jade Thirlwall’s recent remarks about never wanting to work with Puth.
Actress Bella Thorne and Charlie Puth attend the Y100's Jingle Ball 2016Getty Images
Bella Thorne calls out Charlie Puth over 2016 romance
The drama resurfaced after a fan account posted a quote from Jade Thirlwall, formerly of Little Mix, saying she would “never collaborate” with Charlie Puth. Bella Thorne commented on the post, “Yeah, I mean... he lied to the entire world about me and started a hate train. All because I wouldn’t... do the deed with him.”
Thorne and Puth were briefly linked in late 2016 following her breakup with Teen Wolf actor Tyler Posey. The pair were spotted together at Miami’s Jingle Ball that December and were photographed kissing. Puth even serenaded her on stage, but things quickly turned messy.
Bella Thorne's commentInstagram Screengrab
Puth accused Thorne of being dishonest about her breakup
Soon after their public outings, Puth posted a series of now-deleted tweets implying that Thorne had not been truthful about ending her previous relationship before seeing him. Though he didn’t name her directly, he issued an apology to Posey, stating, “She told me she was not with him anymore. This is all news to me.” In another tweet, he added, “No one should have their heart messed with like this, and I’m not going to be in the middle of it.”
These posts sparked widespread online criticism of Thorne, who at the time quickly denied the accusations. She clarified on X that she had already broken up with Posey “like over two weeks” before and was not in a relationship with Puth either. She claimed he had seen an outdated article and jumped to conclusions instead of contacting her directly.
Charlie Puth performs onstage at an interactive global eConcert liveGetty Images
Thorne later shared her side of the story on radio
Speaking on The Jenny McCarthy Show in 2017, Thorne described her split with Posey as one of the hardest breakups she’d gone through. She said Charlie had reached out via social media, and they went out a couple of times. She described him as “super talented” and said she was impressed by his talent.
Recalling the Jingle Ball appearance, Thorne explained that she accepted his invite as friends, but the fallout came after Puth saw an old article about her and Posey. “He didn’t even look at the date,” she said. “Instead of texting me and asking about it, he posted it on Twitter.”
Bella Thorne and Mark Emms attend a red carpet for the movie "Priscilla"Getty Images
Both have moved on, but tensions linger
Since the short-lived scandal, both stars have gone their separate ways. Thorne got engaged to film producer Mark Emms in 2023, sharing their relationship with fans on Instagram. Puth, meanwhile, married his longtime friend Brooke Sansone in September 2024.
Charlie Puth and Brooke Sansone attend the 10th Breakthrough Prize CeremonyGetty Images
Though neither publicly addressed the incident again until now, Thorne’s recent comment suggests that the events of 2016 left a deeper mark than previously thought. The renewed attention on Puth’s past behaviour also sheds new light on Jade Thirlwall’s remarks, with fans now speculating that more industry figures may have experienced similar run-ins.
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This July, the iconic Shaw Theatre in London will host an afternoon of inspiration, culture and connection as Bollywood star and cancer survivor Manisha Koirala takes the stage for a very special event. ‘An Audience with Manisha Koirala’, taking place on Sunday 13 July from 12.30 to 4.00pm, promises to be an unforgettable afternoon celebrating not only a glittering film career but also an extraordinary story of survival and strength.
Organised by Ovacome, the UK’s ovarian cancer support charity, this one-of-a-kind event offers fans and supporters the rare chance to see Manisha in person and hear her story in her own words. Interviewed by Dr Amir Khan, NHS GP and TV personality, and Fatima Patel, Managing Editor of Asian Standard, Manisha will reflect on her journey through the highs of stardom, her battle with ovarian cancer, and the resilience that carried her forward. She will also treat the audience to an exclusive reading from her acclaimed book Healed.
The afternoon will begin with a dazzling Bollywood dance performance by Binal's Dance Academy, setting the tone for a vibrant celebration of South Asian culture. The programme will also feature a fundraising auction in aid of Ovacome, helping to raise vital funds and awareness for ovarian cancer support services.
Doors open at 12:30pm, with the main programme beginning at 1:30pm. For those opting for a VIP experience, the event includes priority seating in the front three rows, access to a private VIP lounge with refreshments, and an exclusive meet-and-greet with Manisha from 3:30 to 4:00pm.
Standard tickets are available at £35, while a limited number of VIP tickets offer enhanced access and premium benefits. All ticket proceeds go towards supporting Ovacome’s life-changing work. Accessible seating and free carer tickets are also available – simply contact the team during booking or reach out via fundraising@ovacome.org.uk or 0207 299 6654.
For businesses and individuals looking to support the cause further, a Bronze Sponsorship Package is available for £500, which includes two VIP tickets, prominent listing in the event programme, and an opportunity to showcase your business or family support in front of a diverse and engaged audience.
The event is proudly supported by Asian Standard (Official Media Partner), Media Hive (PR Partner), and Asian Star Radio (Official Radio Media Partner).
Whether you’re a longtime fan of Manisha Koirala, a supporter of cancer awareness, or simply looking for a meaningful cultural event to attend this summer, this is an opportunity not to be missed.
To book your tickets, visit the registration page or call 0207 299 6654 between 9.30am and 5.00pm.
Venue: Shaw Theatre, 100–110 Euston Road, NW1 2AJ, London
Let’s come together to celebrate resilience, raise awareness, and be inspired by one woman’s remarkable journey.
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Playing his first Test in over four years, Archer dismissed Yashasvi Jaiswal with just his third ball. (Photo: Getty Images)
JOFRA ARCHER made an early breakthrough on his return to Test cricket at Lord’s on Friday, while India captain Shubman Gill was dismissed for a low score on the second day of the third Test.
Playing his first Test in over four years, Archer dismissed Yashasvi Jaiswal with just his third ball. Later, Gill, who had scored 585 runs in four innings in the series including three centuries, was caught behind for 16.
India finished the day on 145-3 in response to England’s first-innings total of 387, trailing by 242 runs. KL Rahul was unbeaten on 53, with Rishabh Pant not out on 19.
Archer, who had impressed at Lord’s during the 2019 50-over World Cup final and made his Test debut at the same ground that year, bowled Jaiswal with a 90 mph full-length delivery that was edged to Harry Brook at second slip.
The 30-year-old celebrated with a roar as the Lord’s crowd joined in.
'X-factor' Archer
Archer’s return comes amid England’s hopes of him playing a major role in the 2025/26 Ashes series in Australia. He bowled a tight 10-over spell on Friday, conceding just 22 runs and consistently bowling over 90 mph.
"The noise, the pure joy everyone has seeing him (Archer) back in whites, everyone's genuine excitement to see him playing Test cricket again, it created a great atmosphere," Joe Root told Sky Sports after the day’s play.
"He's X-factor," added Root, who earlier scored a century and took a new Test record with his 211th catch as an outfielder.
England captain Ben Stokes, who had suffered a groin strain while batting on Thursday, returned to bowl without any visible discomfort. He dismissed Karun Nair for 40, who edged a delivery to first slip where Root held a one-handed left catch, giving him sole possession of the record he previously shared with Rahul Dravid.
Chris Woakes, who had taken only three wickets in the series at an average of nearly 97, got Gill out for 16. The India skipper edged to wicketkeeper Jamie Smith, who was standing up to the stumps, leaving India at 107-3.
Earlier in the day, Jasprit Bumrah took 5-74 in 27 overs to help bowl England out after lunch. His performance earned him a place on the Lord’s honours board.
Bumrah delivered a key spell of 3 wickets for 1 run in seven balls, dismissing Stokes, Root, and Woakes.
"It's really special," Bumrah told the BBC. "We don't come here (to Lord's) very often, maybe every four years... Being on the honours board feels good."
However, Brydon Carse frustrated India with a 56-run innings. He shared an eighth-wicket stand of 84 with Smith, who made 51 after being dropped by Rahul in the slips when on five.
Smith had earlier made 184 not out and 88 in England’s loss to India in the second Test at Edgbaston, where the visitors won by 336 runs to level the five-match series at 1-1. Bumrah did not play that match.
Root, who resumed the day on 99, reached his century with a boundary off Bumrah. It was his 37th Test hundred, placing him fifth on the all-time list, led by Sachin Tendulkar with 51.
"I don't think I've been 99 not out overnight before," said Root. "I woke up in the night and couldn't get back to sleep."
Stokes added just five runs to his overnight score of 39 before being bowled by Bumrah. The next ball, Woakes edged behind for a golden duck to stand-in wicketkeeper Dhruv Jurel, who replaced the injured Pant.
Carse survived the hat-trick ball but was later bowled by Siraj, ending England’s innings. He had earlier brought up his 50 off 77 balls with a six.
(With inputs from agencies)
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Alcaraz has won 35 of his 38 matches on grass, including 20 in a row at Wimbledon since losing to Sinner in the fourth round in 2022.
Carlos Alcaraz defeated Taylor Fritz in four sets to reach his third Wimbledon final in a row.
The match was played in extreme heat, with on-court temperatures nearing 32 degrees Celsius.
Alcaraz extended his winning streak to 24 matches, the longest of his career.
He is aiming to become the fifth man in the Open era to win three straight Wimbledon titles.
CARLOS Alcaraz reached his third consecutive Wimbledon final on Friday with a 6-4, 5-7, 6-3, 7-6 (8/6) win over American fifth seed Taylor Fritz.
The defending champion battled through a match lasting two hours and 49 minutes on Centre Court, where temperatures reached close to 32 degrees Celsius (90 degrees Fahrenheit). Several spectators in the stands required medical attention due to the heat, but Alcaraz maintained focus to overcome Fritz with strong returns and consistent serving.
Carlos Alcaraz is a #Wimbledon finalist for the THIRD YEAR IN A ROW 😮
The two-time defending champion defeats Taylor Fritz 6-4, 5-7, 6-3, 7-6(6) to put one hand on the Gentlemen's Singles Trophy - and Centre Court ROARS for the Spaniard 🇪🇸
“It was a really difficult match, as always when I play against Taylor. Even tougher with the conditions. It was really hot today,” Alcaraz said. “I dealt with the nerves. Playing here in a semi-final is not easy. I'm really proud with the way I stayed calm and thought clearly. I'm pleased about my level.”
The Spaniard, currently ranked world number two, has returned to form after an inconsistent start to the tournament. He is now on a 24-match winning streak, his longest career run, which began after a loss to Holger Rune in the Barcelona final in April. Since then, he has claimed titles at the French Open, Rome, Monte Carlo and Queen’s Club.
Alcaraz has won 35 of his 38 matches on grass, including 20 in a row at Wimbledon since losing to Sinner in the fourth round in 2022.
"I'm not thinking about the winning streak or the results at all,” he said. “This is my dream, stepping on these beautiful courts and playing tennis in the most beautiful tournament in the world. I just want to enjoy this moment, that I've got to a third final in a row. I will have time to think about Sunday.”
"It is one of the most exciting match-ups we have on tour at the moment" ⚡️
Defending champion Carlos Alcaraz will come up against either Jannik Sinner or Novak Djokovic in the final on Sunday - and he'll be watching intently to see who it will be 👀#Wimbledonpic.twitter.com/t7f7MmuiMH — Wimbledon (@Wimbledon) July 11, 2025
A win on Sunday would make Alcaraz the fifth man in the Open era to win three straight Wimbledon titles, following Bjorn Borg, Pete Sampras, Roger Federer and Djokovic. He would also become the second-youngest player in the Open era to win six men’s Grand Slam titles, after Borg reached that milestone in 1978, also aged 22.
Fritz, who was playing in his first Wimbledon semi-final, had hit 95 aces during the tournament but was unable to get past Alcaraz’s returns. The 27-year-old, a US Open runner-up last year, was broken in the first game of the match as Alcaraz took early control.
Alcaraz had his eye checked midway through the first set but held serve throughout to win it. After dominating on serve in the opener, he dropped a rare service game in the second set, allowing Fritz to level the match with the help of a double fault and two unforced errors from the Spaniard.
Alcaraz responded by breaking early in the third set with a drop shot and lob combination. He added another break later to take a two sets to one lead.
In the fourth set tie-break, Fritz led 6-4 but Alcaraz saved both set points. He then closed out the match with a series of ground-strokes to book his place in the final.
(With inputs from agencies)
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Air India's Boeing 787-8 aircraft, operating flight AI-171 to London Gatwick, crashed into a medical hostel complex shortly after take-off from Ahmedabad on June 12.
Fuel to both engines of the Air India flight was cut off seconds before the crash
A pilot was heard questioning the other over the cut-off; both denied initiating it.
The Dreamliner crashed shortly after take-off from Ahmedabad, killing 260 people.
Investigators are focusing on fuel switch movement; full analysis may take months.
FUEL control switches to both engines of the Air India flight that crashed shortly after takeoff were moved from the "run" to the "cutoff" position seconds before the crash, according to a preliminary investigation report released early Saturday.
The report, issued by the Aircraft Accident Investigation Bureau (AAIB), did not draw conclusions or assign blame for the June 12 crash, but stated that one pilot was heard asking the other why he had cut off fuel. The second pilot replied that he had not.
The Boeing 787-8 Dreamliner was on its way from Ahmedabad in western India to London when it crashed, killing 260 people. Among the dead were 241 of the 242 people on board and 19 people on the ground.
Switches moved one after another
The 15-page report said that after the aircraft reached its top recorded speed, "the Engine 1 and Engine 2 fuel cutoff switches transitioned from RUN to CUTOFF position one after another with a time gap of 01 sec".
"In the cockpit voice recording, one of the pilots is heard asking the other why did he cutoff. The other pilot responded that he did not do so," the report stated.
The aircraft quickly lost altitude following the switch movement.
The switches then returned to the "RUN" position, and the engines appeared to regain power. However, "one of the pilots transmitted 'MAYDAY MAYDAY MAYDAY'," the report said.
Air traffic controllers asked the pilots what was wrong, but soon observed the crash and alerted emergency responders.
Investigation focused on fuel switches
Earlier this week, specialist website The Air Current reported that the probe had "narrowed its focus to the movement of the engine fuel switches", while also stating that a complete analysis may take several months or more. It added that the focus of the investigation could still change.
According to the AAIB report, the US Federal Aviation Administration had issued an information bulletin in 2018 about "the potential disengagement of the fuel control switch locking feature".
The issue was not considered an "unsafe condition" requiring a more serious directive, and Air India told investigators it had not conducted the suggested inspections as they were "advisory and not mandatory".
Air India was found to be compliant with all airworthiness directives and alert service bulletins on the aircraft, the report noted.
The bureau said there were "no recommended actions to B787-8 and/or GE GEnx-1B engine operators and manufacturers", indicating that there were no immediate technical concerns with either the aircraft or the engines.
The AAIB said the investigation is ongoing and that further evidence and information have been "sought from the stakeholders".
Boeing said in a statement that it would "continue to support the investigation and our customer", adding, "our thoughts remain" with those affected by the crash.
Air India stated that it was "working closely with stakeholders, including regulators".
"We continue to fully cooperate with the AAIB and other authorities as their investigation progresses," the airline said in a statement posted on X.
Passenger details and international assistance
The UN's International Civil Aviation Organization (ICAO) requires that a preliminary report be submitted within 30 days of an accident by the country leading the investigation.
Investigators from the United States and the United Kingdom have also joined the probe.
The aircraft was carrying 230 passengers — including 169 Indian nationals, 53 British citizens, seven Portuguese nationals and one Canadian — along with 12 crew members.
Dozens of people on the ground were also injured.
One British passenger survived and was seen walking out of the wreckage. That person has since been discharged from hospital.
Initial figures released by health officials in Gujarat put the death toll at 279, but forensic experts later revised the number after identifying multiple scattered and severely burnt remains.