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Nithin Kamath weighs in on Mercedes executive linking SIPs to low sales

Nithin Kamath was responding to a statement made by Mercedes India sales and marketing head Santosh Iyer where he claimed that if the money saved for SIP was diverted toward the luxury car market, the business would improve tremendously.

November 28, 2022 / 02:40 PM IST
Zerodha co-founder and CEO Nithin Kamath

Zerodha co-founder and CEO Nithin Kamath

Zerodha co-founder and CEO Nithin Kamath on Monday weighed in on reports of Mercedes India sales and marketing head Santosh Iyer's claims that the rising popularity of SIPs (Systematic Investment Plans) in India is affecting sales of the luxury car.


Taking to Twitter, the billionaire investor wrote, "A saving mindset is what will help us in times like now when countries that have borrowed heavily are getting screwed? In a world of rising interest rates, this will probably get much worse before it gets better for them."

This was in response to Iyer's statement to Times of India where he claimed that if the money saved for SIP was diverted toward the luxury car market, the business would improve tremendously.