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Slow Down in Auto Industry as Disclosed by Bharti Axa

Rupees has deteriorated to its lowest in recent month. With the decreasing value of the currency in India, many sectors are deeply impacted. Sandeep Nanda, Chief Information Officer, Bharti Axa says “Increasing price of raw material can put great pressure on the auto organizations. It can impact their profit margins to a great extent”. There can be a further decrease in the demand because of the rising fuel costs. Due to the increase in the cost of owning a vehicle, many people are finding it as a challenge to afford a new car. However, this may not have an impact on auto component exporters as they got a significant contribution in the same.

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