Mayday! Crude blow to car sales
AFTER a splendid run for most of last fiscal and in April, passenger car sales are decelerating as consumers apprehend a hike in petrol and diesel prices. With crude oil price hitting a record $133 per barrel and a fuel price hike looking imminent, Indian customers are postponing their car purchases. The biggest hit is the price-sensitive small-car segment, which accounts for 75% of the total sales.