Mumbai, December 23: Auto industry has slowed down in the last one year due to few negative factors like new insurance policy resulting into higher cost for end consumers, Non-Banking Financial Companies (NBFCs) issue and liquidity crisis, higher monsoon deficit in few regions impacting rural demand, new axle load norm and overall economic slowdown. However, after enduring tough 12 months, the auto industry is seeing signs of stability across segments, said Motilal Oswal Institutional Equities in one of its sector update report. As per the sector update, the industry is partly driven by high discounts, improvement in availability of finance and rural sentiment improvement. Motilal Oswal noted that there are three major themes that would be seen in year 2020.