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After Nirmala Sitharaman’s press conference on slowdown in auto industry, #BoycottMillennials trends online

Speed News Desk | Updated on: 11 September 2019, 12:50 IST

Finance Minister Nirmala Sitharaman on Tuesday blamed millennials for the slowdown in India’s automobile industry. She told in a press conference that millennials mostly prefer to travel by app-based cab services which have affected the auto market.

According to the news agency ANI, “Automobile industry is now affected by BS6 and the mindset of millennials, who now prefer to have Ola or Uber rather than committing to buying an automobile.”

 

This remark of Union Minister came after the heavy drop in the Automobiles sales in August across categories. According to the data provided by industry body SIAM, passenger car sales have fallen by as much as 41.09 percent.

Finance Minister also stated that the youth of the country generally prefer to take Ola and Uber instead of purchasing personal vehicles.

She also briefed that “Some studies do tell us that mindset of millennials, who are now preferring not to commit an EMI (equated monthly installment) for buying an automobile, instead prefer to take Ola, Uber, everything else, or take the metro. A whole lot of factors are influencing automobile sector. We are trying to solve the problem for them.”

Moreover, these remarks of Sitharaman didn’t go down so well with the millennials and they completely disagree with her statement.

Soon, the hashtag #BoycottMillennials started trending on the micro-blogging site Twitter.

Check out how Netizens reacted:

 

Do you agree with Finance Minister Nirmala Sitharaman statement on automobile industry slowdown? Comment...

Also Read: Nirmala Sitharaman on automobile sector slowdown: Uber-Ola mindset of millennials important factor

First published: 11 September 2019, 12:45 IST
 
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