Auto exports face red signal over Green norms: S & P
MUMBAI: India's ambitions to become a major exporter of automobiles may take a hit with the tightening of emissions laws in global car markets, a report said. Stricter environmental regulations would affect the burgeoning auto market in the country, the report by S&P's Rating Services said. "Further regulations in target markets such as Europe could represent a significant additional hurdle to the export ambitions of auto industries in India," S & P credit analyst Maria Bissinger said. With the purposed emission standards estimated to cost between $1, 300 and $1, 900 per vehicle, it could seriously undermine profitability. Globally, many automakers have been witnessing declining profits or operating losses.
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