Automobile, durable cos fear erosion in growth
Pankaj Doval & Rupali Mukherjee | TNN New Delhi: Auto and consumer durables industries are fearing a slowdown as interest rates are expected to rise after RBI's decision to hike CRR and repo rate. Sales may go down as customers would not be much inclined to enter showrooms with auto loans rates are going up, say car makers. "This will put further pressure on growth, as the market sentiment is already down,' says Arvind Saxena, Senior V-P at Hyundai India.