Dependency on Ola, Uber means more demand: JLR chief executive Ralf Speth

Millennials depending more on ride-hailing service providers for commuting would mean more demand for cars rather than affecting sales in mega cities, including those in India, according to JLR chief executive Ralf Speth.

Amid automobile sales slowdown in India, Finance Minister Nirmala Sitharaman had recently said one of the reasons for the downturn in the industry was millenials using more of ride-hailing services Ola and Uber instead of buying new cars.

“We should not always see it in black and white. I look at a little differently. If you look at experiences of mega cities, like London, this kind of trend will create demand for more cars,” Speth said here.