Auto sales drops down as youth prefer Ola and Uber: Finance Minister
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Auto sales drops down as youth prefer Ola and Uber: Finance Minister

By The Times Of India calender  12-Sep-2019

Auto sales drops down as youth prefer Ola and Uber: Finance Minister

Finance Minister Nirmala Sitharaman stated that the decline in auto sales is not due to just higher tax rates, but because of change in people's mindset.
She said that youth's preference for cab hailing services like Ola and Uber over paying EMIs for new cars has affected the sales performance of the auto sector.
The Finance Minister also assured that the government is aware of the need to respond to the troubles in the auto sector.
She also assured that a decision on GST rate cut for vehicles will be taken soon.
The automobile sector saw its worst sales performance in August as it declined 23.5 per cent, the worst in the past two decades.
Also Read: M K Stalin raises his voice for the railway exam to be taken in all regional languages

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