India's car sales have crashed by 26 per cent in February the biggest fall in more than 12 years as high interest rates, soaring fuel bills and a general sentiment of gloom and doom seem to be making consumers stay far far away from showrooms. On We Mean Business, experts, Abdul Majeed; partner at
Price Waterhouse; Vikram Kirloskar, vice chairman of Toyota Kirloskar Motor and vice president of SIAM; Nishant Vass, research analyst (auto and auto ancillary) at ICICIDirect.com; HS Goindi, president of marketing at TVS Motor ltd, and Lowell Paddock, president and MD of General Motors India, take stock of what's gone wrong with India's automobile market and how much worse things could get from here. They also discuss what the implications of this slowdown are on suppliers, the labour market and the economy as a whole.
