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Wednesday, 24 August 2011

Auto sector sees no fireworks this Diwali

Mumbai: With market analysts feeling that the Reserve Bank is unlikely to pause on its tight monetary policy, the auto industry sees no respite even during the forthcoming festive season and expects further slowdown in sales in the months ahead.

“We don’t expect any significant sales growth this festive season. The market has been dented by high fuel prices and interest rates. Any further rate hike will impact sales during the festive season,” Icra Senior Analyst (Automotive Sector) Shamsher Dewan told. Vcommindia News 

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