NEW DELHI: It is hoped that the Automobile sales in India may pick up from mid-September as a precursor to the festive season, the Society of Indian Automobile Manufacturers (SIAM) said Friday.
Vishnu Mathur, director general, SIAM addressing a press conference told the reporters that, "We do expect the markets to pick up somewhere around mid-September before the festive season begins." He revealed further saying, the auto industry was reeling under the pressures of high input costs coupled with rising fuel and interest costs which have dampened consumer sentiment. "The consumer sentiment is down right now, because of which the footfalls at the showroom are not being converted into purchases," he said. Mathur added that high interest rates are also deterring small and medium enterprises in the automobile sector in their expansion plans.Vcommindia News
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