It was reported by the India Ratings and Research, the rating company, the auto sales will not have any impact due to the discounts offered by some PSU banks. The report also said that the auto sales will not go fast because of the festival season. PSU banks slash interest rates for automobiles in October by about 20 basis points, offering automobile loans with interest rates, which vary from 10.45% to 10.75%. The rating company added that the festive season will not be controlled by the panorama of lower interest expenses.
It was said by the India Ratings and Research that the delay in auto sales is mainly for the reason that the total price of ownership is high and prolongs to increase progressively because of the frequent increase in fuel cost.