Ratings agency India Ratings maintained a stable to negative outlook on the automobile sector for 2014-15 financial year.
The agency expects at base case a 3-8 per cent decline in the passenger vehicle segment which comprises cars, utility and multi-purpose vehicles, while the volume growth in the commercial vehicle (CV) segment is likely to post a 6-9 per cent y-o-y decline in domestic volumes in FY15, India Ratings said in its auto outlook released here on Thursday.
India Ratings also said that given the structural issues of over-capacity and intensifying competition it does not envisage the outlook being revised to positive even in the event of a modest volume revival.