The indian automobile sector is experiencing a prolonged negative growth Which of the following...........

Economic Affairs Industrial sectors

The indian automobile sector is experiencing a prolonged negative growth.Which of the following statement is incorrect regarding the factors responsible for such poor growth?

Multiple policy shocks impacted the sales.

Huge global slowdown in automobile sector.

Tightening liquidity in the Non banking financial companies (NBFC) sector.

Increase in fuel prices and higher interest rates.

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Explanation:

The current slowdown in the sector is very different from the ones that the industry has gone through earlier. First, the slowdown is driven by domestic factors, including the NBFC crisis, while the earlier ones were triggered by global events.