Maruti Chairman Mr R.C.Bhargava mentioned that auto industry goes in a downturn every 5 years...2008-9, 2013-14 and now 2018-19...he said the downturn typically lasts for 12-14 months....this year we are experiencing this downturn plus increase in insurance cost, road tax ,increased cost of the car with more safety norms etc....currently we are in 12 th month of this downturn.....
He is very confident that 4 wheelers will see upturn soon. On Electric Vehicles his take is there wont be electric car for personal transportation ( small car ) for next 3-4 years because a Internal Combustion ( IC ) car costing Rs 5 Lacs , the same car will cost twice as much for electric version....plus charging stations,battery cost issues will keep it out of small car....
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