Automobile body lowers sales forecast for FY17
The Society of Indian Automobile Manufacturers (SIAM) has lowered its growth forecast for passenger vehicle sales from 11-12% to 6-8% for 2016-17, after hitting a five-year high of 7.24% last fiscal. This comes on the back of uncertainty over the ban on registration of certain diesel vehicles in Delhi NCR and the 1-4% infrastructure cess announced in the Budget.