Auto industry struggle to continue, cars hit hardest: CLSA

Struggling with a bleak run for the last few quarters, CLSA says the Indian auto industry continues to face a weak demand environment following weak two-wheeler and passenger vehicle volumes in May. CLSA added that the truck industry mix is also weakening following the new axle loading norm. However, Tata Motors that continued to see a sharp decline in China, may see the base turn more favourable from July.