Union finance minister Nirmala Sivaraman Tuesday said millennials mindset is a factor behind the slowdown in vehicle sales. Finance Minister Nirmala Sitharaman attributed the lower demand for automobiles to the changing mindset of millennials and BoycottMillennials is one of the top trends on Twitter in India.
BS-VI (norms) and the mindset of millennials, who now prefer to have Ola and Uber rather than committing to buying automobile and components industry has been affected.
Sales of cars and SUVs have been sliding for 10 straight months. The sector is seeing the worst slump in two decades. In August, domestic passenger vehicle sales fell 31.57 % year-on-year, according to industry body Society of Indian Automobile Manufacturers (SIAM).
Many Twitter users disagreed with Sitharaman’s assessment and made sarcastic comments to express their views. Many were of the opinion that the Finance Minister was blaming millennials.
Writer: Rohit Kumar