Shares of automobile companies are under pressure in morning trades on concerns of slowdown in demand for petrol vehicle after the state-owned oil marketing companies raised the price of petrol by a record Rs 6.28 a litre.
“In the short-term, sales will be further impacted while in the long term a negative consumer sentiment will be created which can hurt the growth of the auto industry,” the PTI report suggests quoting Sugato Sen, senior director of Society of Indian Automobile Manufacturers (SIAM).
Shares of automobile companies are under pressure in morning trades on concerns of slowdown in demand for petrol vehicle after the state-owned oil marketing companies raised the price of petrol by a record Rs 6.28 a litre.
“In the short-term, sales will be further impacted while in the long term a negative consumer sentiment will be created which can hurt the growth of the auto industry,” the PTI report suggests quoting Sugato Sen, senior director of Society of Indian Automobile Manufacturers (SIAM).
