Mumbai (Maharashtra), Feb. 19 -- : Slowing GDP growth and weak consumer sentiment in India will continue to weigh on auto sales despite some improvement in the quarter ended December 2019, according to Fitch Ratings.
The decline in sales slowed for all key auto categories in the third quarter of the financial year ending March 2020 (3Q FY20) as automakers offered attractive discounts during the festive season.
Sales volumes have continued to decline since the start of 2020. Vehicle sales have been hampered by weak consumer sentiment and still-weak availability of financing following tighter liquidity at non-bank lenders since 2018.
The sector also faces additional challenges from the adoption of stricter BS6 emission standards from April...