Reportedly when Finance Minister Nirmala Sitharaman claimed that a preference by millennials for ride-hailing apps was contributing to a painful slump in car sales, it sparked an online backlash from furious youngsters.
They started a campaign using hashtags such as #Boycott Millennials last week to push back against older generations blaming them for today's problems. While data shows firms such as Uber and Ola are popular with younger consumers more comfortable with shared mobility and digital trends, analysts say the auto industry's problems run deeper than that and it is facing more serious bumps in the road.
Even india's richest banker, Uday Kotak, recently said that his son was more comfortable using ride-sharing apps than owning a car.
Auto sector continues to be on slide due to low consumer demand Reportedly there is no relief for the auto sector in India as SIAM (Society of Indian Automobile Manufacturers) data for the month of September show that passenger vehicle sales plunged by 23.69 per cent. The commercial vehicle sales were down by 62.11 per cent in September. This means the slump in vehicular sale has continued in the eleventh straight month at a time when the country's auto sector
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