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Recent automobile sales volumes point to overall weakness in demand with no recovery in sight. Auto companies are attributing the weak offtake to subdued overall macro conditions and lower discretionary spending. Auto companies now say the speed of slowdown has been faster than expected in FY13.
No wonder the earlier view of a recovery in FY14 is now being shelved, as analysts lower FY14 volume estimates across-the-board and factor in a recovery for autos only in FY15. Here's how the sector is expected to fare in the coming months:
