Passenger vehicle sales to outdo Siam's forecast, says M&M MD Pawan Goenka

M&M reported a 16% decline in its net profit for the fourth quarter ended March 31 at Rs 969 crore

Amid slowing sales and poor buying sentiment, Pawan Goenka, managing director, Mahindra & Mahindra (M&M), is hopeful that passenger vehicle sales in India in the ongoing financial year may do better than what the auto industry body has projected. 

Goenka expects the newly elected government to take aggressive steps to boost consumption and expedite reforms after a strong mandate the ruling Bharatiya Janata Party has got in the recently concluded Lok Sabha elections.

“The industry will do better than the Society of Indian Automobile Manufacturers’ (Siam) forecast,” he said at the company’s annual press meet.  Uncertainty ahead of the elections,