Mercedes Benz, BMW and Audi have sharply increased their sourcing from India.
While retail sales at dealerships have suffered the full impact of demonetisation, the growth in wholesale volumes comes as dealers had relatively lower inventory after Diwali in October.
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.
Among those who have the most to lose from India's haphazard policies are dealers selling cars made by Toyota, Mahindra & Mahindra, Daimler AG's and Tata Motors' luxury arm, Jaguar Land Rover
The industry players couldn't hide their disappointment.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Turns down firm's plea for stay on CCI order; final order pending
Formal announcement of venture into new segment on Thursday; group's entry timely, given the demand, say experts
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