July car sales dip 16 per cent

Negative macro economic factors are taking a toll on the car segment, director general of Society of Indian Automobile Manufacturers SIAM Vishnu Mathur said. He said for the year ahead,a lot would depend on whether interest rates and fuel prices show signs of softening. Crude oil prices have slipped below 100. If it comes down,it could have a positive impact on sales, he said.

This is a more gradual slowdown and all of us are prepared8230; and not like the earlier one which was more sudden and impacted us badly, said Pawan Goenka,president,SIAM.