The automobile space is staring at a downturn. Tata Motors says soaring interest rates and high fuel costs are turning into a deadly double blow for the Indian auto industry.
PM Telang, the managing director of India operations told CNBC-TV18, that smaller commercial vehicles would aid overall volume growth of the company. And in the passenger car business, he expects fuel efficient models to do the trick. "Passenger cars have been a matter of concern for India since the past few months, primarily because of the sharp rise in petrol prices and interest rates. This has affected the market to quite an extent. But having said that we will be doing a lot of things from our side" he said. According to him, the fuel efficienct vehicles are very important. "We are coming out with Indigo eCS and hopefully some more vehicles which will be highly fuel efficient" said Telang. Currently, Tata Motors has the Indica eV2, which gives 25 kilometers per liter Here is the edited transcript of the exclusive interview. Also watch the accompanying videos. Q: How worried should your investors be about Jaguar Land RoverDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
