Union finance minister Nirmala Sitharaman on Tuesday said the slowdown in the automobile sector was because of many factors like the change in the mindset of millennials who prefer taxi aggregators such as Ola and Uber instead of committing themselves to monthly instalments to own a car.
The minister said the sector had also been affected by factors including movement towards BS-VI norms and registration-related matters.
She said some studies had revealed that there was a change in the mindset of the millennials not to commit any EMIs (equated monthly instalments) towards buying an automobile and, instead, opting for Ola, Uber or Metro services.
“So, a whole lot of factors are influencing the automobile sector. We are all seized of the problem. We will try to solve it,” she said.
The Bharat Stage VI (or BS-VI) emission norms will come into force from April 1, 2020, across the country. The government had clarified that BS-IV vehicles purchased up to March 2020 would remain operational for the entire period of registration.
Sitharaman’s comments drew derision from the Congress and the Twitteratti. “So, the decline in bus and truck sales is also because millennials have stopped buying them as much as they used to?”Congress asked.
The Twitterati also jibed at Finance Minister’s statement.
“Yes.. the truck and bus drivers are all taking Ola and Uber instead of driving trucks…that’s why no trucks and buses are selling .. sad ..” a Twitter user PKR jibed.
Yes.. the truck and bus drivers are all taking Ola and Uber instead of driving trucks…that’s why no trucks and buses are selling .. sad .. https://t.co/ZIl3Z8rFKc
— PKR | প্রশান্ত | پرشانتو (@prasanto) September 10, 2019
Sensex is falling cos Millennials are spending more time online and having less sex.#SayItLikeNirmalaTai
— Vasooli Bai (@Vishj05) September 10, 2019
Divorce rate is high in india bcz people are marrying. #SayItLikeNirmalaTai
Divorce rate is high in india bcz people are marrying. #SayItLikeNirmalaTai
— St. Sinner (@retheeshraj10) September 10, 2019
Restaurant sales are down because we have fed the country so much bullshit.
Restaurant sales are down because we have fed the country so much bullshit.#SayItLikeNirmalaTai
— Vidyut (@Vidyut) September 10, 2019
If the economy is growing faster then Uber and Ola will buy more cars ! Blaming #BoycottMillennials is Whatsapp university level education. #EconomicCrisis May turn into recession because of Modi & #NirmalaSitaraman ‘s ZERO knowledge.
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If the economy is growing faster then Uber and Ola will buy more cars !
Blaming #BoycottMillennials is Whatsapp university level education.#EconomicCrisis May turn into recession because of Modi & #NirmalaSitaraman ‘s ZERO knowledge. https://t.co/J9NIc1kwZP
— Anil Rao (@OnlyTRS) September 11, 2019
Trp of cartoon channels are down because kids are watching deepak chaurasia #SayItLikeNirmalaTai
Trp of cartoon channels are down because kids are watching deepak chaurasia#SayItLikeNirmalaTai pic.twitter.com/nCNxklVS2I
— Navjot Singh Tiwana (@navjotiwana) September 11, 2019
As the number of akoris increased, the sales of underwears decreased
#SayItLikeNirmalaTai
As the number of akoris increased, the sales of underwears decreased😂😂😂 #SayItLikeNirmalaTai pic.twitter.com/KQ1w6Y56Bf
— நித்தின் கார்த்திக் (@snithinkarthik) September 11, 2019
We are happy coz people are not happy
We are happy coz people are not happy#SayItLikeNirmalaTai pic.twitter.com/FqFv0BEVDE
— மூத்த குடி தமிழ் (@AA_Reegan) September 11, 2019
Porn industry is down because BJP MLAs are not attending assembly
Porn industry is down because BJP MLAs are not attending assembly 😩
#SayItLikeNirmalaTai pic.twitter.com/sv1BvTyHz8
— காண்ட்ராக்டர் நேசமணி (@naanthamizh) September 11, 2019
Garment industry’s sluggishness is due to these people
Garment industry’s sluggishness is due to these people #SayItLikeNirmalaTai pic.twitter.com/gzKVI9juir
— Savukku_Shankar (@savukku) September 11, 2019
Restaurants & Hotels are not doing well because every family has a pakoda vendor of their own. #SayItLikeNirmalaTai #NirmalaSitaraman
Restaurants & Hotels are not doing well because every family has a pakoda vendor of their own.#SayItLikeNirmalaTai #NirmalaSitaraman pic.twitter.com/CpRmIRfllm
— Shadab (@ishadab007) September 10, 2019
Sanghis have abandoned sex because they are Swayam-Sevaks #SayItLikeNirmalaTai
Sanghis have abandoned sex because they are Swayam-Sevaks #SayItLikeNirmalaTai
— Suryanarayan Ganesh (@gsurya) September 10, 2019
UP has Jungle Raj because Yogi ji is sher. #SayitLikeNirmalaTai
UP has Jungle Raj because Yogi ji is sher. #SayitLikeNirmalaTai https://t.co/mqxl1z4atB
— Roshan Rai (@RoshanKrRai) September 10, 2019