OREANDA-NEWS. BMI View: Tight conditions for consumers and a record sales year in 2015 mean that market growth will be much less buoyant in 2016, with the commercial vehicle segment outperforming.

Key Views

-  Tougher loan-to-value rules for auto financing and higher import, registration and other taxes will all combine to depress new vehicle demand over the near term.

- Higher import tariffs could encourage market leader Maruti Suzuki to start local production.

- The motorcycle segment will remain the single largest component of the wider autos sector.