Rising inflation & interest rates may deal a blow to demand for cars across the world
Take US for instance. Car loan rates are set for 14-year high here, as per BloombergÂ
Average car prices have risen significantly over the past few years
Financing a new car is likely to be costlier than in over a decade
Forbes reports car sales in Western Europe are being slashed owing to inflation fears & geopolitical tensions
China, world's biggest auto market, expected to grow before declining in 2023
Indian automobile industry is cautiously optimistic