Auto sector seen growing 12-15% in FY12



India's automobile industry is expected to grow 12 to 15% in FY12, Pawan Goenka, President of industry body Society of Indian Automobile Manufacturers (SIAM) said on Friday.

Goenka said passenger car sales are expected to grow at 16 to 18% in the year.

Car sales in India rose 24.4% in March, SIAM said, driven by a growing middle class in Asia's third-largest economy, easier access to loans and a wider choice of models.