Passenger vehicle sales to grow 8% in 2016: Moody's
Credit rating agency Moody’s has predicted passenger vehicle sales in India to grow 8% to 34 lakh units in 2016, on account of new launches, lower fuel costs, and ease in financing. Further, it projected a healthy growth trajectory in 2017, with unit shipments climbing 6%. However, it cut the global auto industry's outlook to negative due to weakening demand.