India: India’s small car sales may rebound in 2-3 years, says Maruti Suzuki Chairman Bhargava
Sales of small cars may bounce back in two-to-three years once consumers’ income levels increase, Maruti Suzuki India’s chairman said on Friday, after the carmaker smashed quarterly profit estimates thanks to strong sales of larger and pricier vehicles. Stubbornly high borrowing rates and inflation that is only just cooling have shrunk disposable incomes. “Without growth …