Just now the double whammy of petrol price increase and key policy rate hike by the Reserve Bank of India (RBI) recently has come as a shock for the auto industry. Some stakeholders have already revised the growth rate to single digits for the year, down from 30 per cent last year.
Still some companies had used discounts and other offers to push sales; number of people feels that they may now be left with very few measures to mitigate the impact of poor market sentiment. The bad news comes especially with the festive season demand boom around the corner, which was expected to bring cheer to an industry already burdened by dipping sales.Vcommindia News
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