Country's second-largest two-wheeler manufacturer Honda Motorcycle & Scooter India (HMSI) on Wednesday said it's not expecting a quick recovery in the auto sector due to Bharat Stage-VI (BS-VI) pricing.
In an interview to CNBC-TV18's Alisha Sachdev, Minoru Katu, president and chief executive officer, said that many customers might wait for discounts on BS-IV vehicles.
Katu said, "We are going to stop BS-IV model production by end of this month. Of course, this is the most difficult time as we transition from BS-IV to BS-VI. Many customers may wait for discounts on BS-IV but on the other hand many customers may wait for BS-VI."
He further added, "Not only the motorcycle industry but automobiles as well the customer sentiment is going down and of course with the BS-VI price increase it is difficult to expect a recovery soon."