Motilal Oswal
    NIFTY 50
Motilal Oswal

Auto companies seek scrappage policy to spur demand

Updated : July 12, 2019 10:19 PM IST

With car sales dwindling month after month, India's automobile industry was pinning its hopes on the Union Budget 2019 to boost demand.

However, union finance minister Nirmala Sitharaman did deliver some incentives to electric vehicles who currently command just one percent market share.

With the Union Budget failing to announce a roadmap to phase out old vehicles, CNBC-TV18's Alisha Sachdev reports that the scrappage policy could act as a much-needed trigger.
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