SIAM: Indian automobile industry to miss all growth targets

These April-January 2013 numbers are proof that automakers are caught in a bind of a slowdown. A host of measures, including handsome discounting and a flurry of variants, have failed to get buyers to sign away their monies on new vehicles. As a result, most automakers are looking wishfully at the Union Budget, to be announced later this month,

11 Feb 2013 | 2909 Views | By Autocar Pro News Desk

New Delhi, February 11, 2013: Recognising that the combination of high interest rates, rising fuel prices and poor market sentiment were all contributing to dwindling purchases of vehicles, the Society of Indian Automobile Manufacturers (SIAM) had lowered its growth forecasts for all segments on January 9 this year (see ‘Changing ...

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