Auto Sector The automotive industry crisis of 2008–2010 was a part of a global financial downturn. With high gas prices and a weak US economy in the summer of 2008, Toyota reported a double-digit decline in sales. With increasing prices in fuel, people are moving far from buying petrol vehicles. This gets more clear with the new launch of Honda that is preparing to launch one of its cheapest cars in India, Honda Brio. Earlier people were looking forward to Honda Jazz, but it was priced so high- going to the level of irrationality- that not many people bothered to buy it. Honda Jazz looked good for price upto Rs 5.5 lakh. But being priced in excess of Rs 7 lakh was something insane and Honda paid a huge price for its inept handling and pricing of the car. Even the banks offer auto loans easily.