Cars no longer a aspiration, get ready for changes: Uday Kotak

As the Automobile Industry is making the headline in recent months and with no easy answers in sight, the industry must be ready to brace changes. The suggestion was given by Kotak Mahindra Bank MD, Uday Kotak , when he was addressing the annual convention of Society of Indian Automobile Manufacturers in which he said that cars are no longer an aspiration or need now unlike a few years ago.

By talking about it he gave the example of his son who prefer to take a taxi rather going in his car. “Before the car was a status symbol when I started my career said Uday Kotak, But now my son is more comfortable in travelling in Uber and Ola. It is a classic example of capacity utilisation,” Uday Kotak told Economic Times.

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