Nirmala Sitharaman's millennial theory is correct: Ola, Uber do influence the ‘perfect storm’ in auto sector

Moneycontrol reports:
Finance Minister Nirmala Sitharaman kicked up a storm with her statement that the millennial mindset of using services such as Uber and Ola instead of purchasing vehicles had contributed to the auto sector slowdown. "The automobile and components industry has been affected by BS-VI (Bharat Stage VI) [norms] and the mindsets of millennial, who now prefer to have Ola and Uber rather than committing to buying an automobile," Sitharaman told reporters in Chennai on September 10.
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