Auto sector is set to see a revival next financial year: Anand Mahindra

Anand Mahindra, chairman Mahindra Group, expects a revival in demand for passenger vehicles and tractors in next fiscal on the back of good rainfall and record reservoir levels.

The auto sector has been witnessing a slowdown over last few months forcing manufacturers to cut production and offer steep discounts, however, Mahindra, whose firm leads the tractor market, is optimistic of a turnaround. "Ironically two areas where people think there is gloom, our people are beginning to smile again," Mahindra said at a panel discussion in Mumbai today.

"Some of the most optimistic people in our group today are our automotive people. They