In an interview with ET Now, Mark Fulthorpe, Global Director, IHS Markit Automotive, says expects in a very short space of time to overtake output levels from South Korea. Edited excerpts: The impact of the demonetisation drive in India on the India automotive sector, how are you evaluating it prima facie? I have just arrived in India yesterday. Initial impressions were from afar and I think a lot of people outside the country are impressed with the scale or the ambition of the undertaking. So that is certainly the impression from distance. Obviously as you get closer to the market on the ground and you listen to colleagues, then clearly there will be some disruption in the short term and this is where we beginning with our interpretation. At the moment, we think that the effect is likely to be felt most in the first quarter of 2017 basically that lack of liquidity in the market place. In times of uncertainty, consumers tend to hold on to their cash whether it is something that is physical, obviously the bank notes, whether or not it is the money which is held in their accounts. So we see that consumers are likely… Read full this story
- Fallout 3 ban lifted in Germany after 7 years
- Tanki Online Rumbles Into Germany For This Year's Gamescom; Prizes, Tournaments Await
- Nintendo Switch overtakes PS2’s first-year sales record in Japan
- Doom Won't Be Censored in Germany, Representing a Franchise-First
- Project Cars 2 Soon?
- Project Cars Review Roundup
- Elon Musk says Tesla cars will be ‘fully driverless’ by 2020 – and boasts they’ll drive better than YOU
- Mark of the Ninja Remastered is Not a Switch Exclusive
- Warhammer: Mark of Chaos Exclusive Q&A - Details, Factions, Gameplay, Setting
- Boss Key Productions Co-Founder Cliff Bleszinski Announces Studio's Closure
India will overtake Germany in car production in 5 years: Mark Fulthorpe, IHS Markit Automotive have 302 words, post on economictimes.indiatimes.com at December 6, 2016. This is cached page on Asean Breaking News. If you want remove this page, please contact us.