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No slowdown in automobile sector: CAIT
Traders body CAIT on Tuesday said there is no slowdown in the domestic automobile sector and the industry is making hue and cry only to get a package from the government.
New Delhi: Traders body CAIT on Tuesday said there is no slowdown in the domestic automobile sector and the industry is making hue and cry only to get a package from the government.
The auto industry has been attributing the sales downturn to several factors like high GST (Goods and Services Tax) rates, farm distress, stagnant wages and liquidity constraints.
"There is no slowdown in the domestic automobile sector. They are saying this to get a package from the government," Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal told reporters here.
Citing an example of new vehicle launches, he said companies have received huge number of bookings, which do not reflect any slowdown in the sector.
Talking about recent festival sales announced by global e-commerce firms like Amazon and Flipkart, Khandelwal demanded immediate action from the government to ban these mega sales.
