Worst over for India auto companies: Anand Mahindra

Anand Mahindra, Vice-Chairman and Managing Director, Mahindra & Mahindra, says the worst is over for Indian autos as far as the downturn seen last year is concerned. "The Indian auto industry has always been performing at a higher level than the rest of the world."

Mahindra says companies will have to watch out for sustainability of growth. "Growth will not come from cash incentives, government subsidy."

According to him, fundamentals of the Indian auto sector are strong. However, he says concerns regarding inflation, rising interest rates continue. "There are also concerns regarding the lag effect of drought."