Use of cabs by young hit­ting car sales: FM

The Times of India (New Delhi edition) - - Times Sport - Ra­jesh.c

Chen­nai: It’s not just macro fac­tors alone that are weigh­ing on au­to­mo­bile sales, but chang­ing con­sumer be­hav­iour by mil­len­ni­als too is af­fect­ing the sec­tor, fi­nance min­is­ter Nirmala Sitharaman said on Tues­day.

“There are mul­ti­ple fac­tors im­pact­ing slow­down. Some buy­ers want to wait for BS-VI. We also un­der­stand that mil­len­ni­als don’t want to lock them­selves up with EMIs on auto loans and hence pre­fer Ola or Uber or metro (trains). We are lis­ten­ing to every­one,” Sitharaman said at a news con­fer­ence to list out the gov­ern­ment’s achieve­ments in the first 100 days of its sec­ond term.

While the gov­ern­ment has an­nounced some mea­sures aimed at check­ing fall­ing sales, auto com­pa­nies have been de­mand­ing a re­duc­tion in GST, which is as high as 43% for some of the ve­hi­cles.

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