2020 Auto News Auto Sales Indian automobiles

Banks, NBFCs Deal Another Blow To India’s Battered Auto Industry

One indicator may be worrying for India’s automakers even as sales rebound after April’s complete washout—lenders have turned stricter. Around 80% of owners, according to an auto dealers’ lobby, bought cars, motorcycles and scooters on borrowed money prior to the pandemic. But as economic activity collapsed during the harshest lockdowns in the world, millions are […]