Fitch Ratings says auto sector likely to remain in pain in FY20
Updated : August 27, 2019 08:34 AM IST
Fitch Ratings expects the subdued demand conditions to persist in the auto sector led by the challenges from implementation of stricter emission norms under BS-VI from April, 2020.
It said that the domestic sales trends have weakened since H1FY19 due to constrained liquidity and rising cost of ownership.
The CRA expects overall domestic auto sales volume to decline in FY20 on the back of government's focus on improving liquidity at lenders and recent measures to revive auto demand.