The Economic Times (Bangalore) - India's automobile market is expected to register a slower growth between 12-14 per cent in the current calendar year, as compared to 30 per cent in 2010, an industry official said on Thursday.
With hikes in lending and fuel rates and macro-economic factors not positive, it's "gloomy" picture for automakers in India now, Director (Member of Board) of Volkswagen Passenger Cars Division of Volkswagen Group Sales India Private Limited Neeraj Garg said.
However, he added that sales growth of his company in India would be "much higher" in 2011.
In 2010, Volkswagen sold 32,500 cars in India, but in the first six months of 2011 alone, it has sold 39,366 units.
