MUMBAI (NewsRise) -- India's auto component manufacturer group expects the current slowdown in automobile sales to spill over to next year as rising vehicle prices and tighter availability of credit will continue to hurt demand.
For almost a year, automakers in Asia's third-largest economy have been contending with one of the worst downturns as consumers cut back on spending. A shift in preferences in cities to ride-hailing services such as Ola and Uber has also affected sales of cars and SUVs.
