Automobile slowdown: M&M’s Pawan Goenka says government intervention must before festive season

Pawan Goenka, managing director of Mahindra and Mahindra, on Wednesday said that if the government is considering to take measures to boost the demand in the automobile sector, it should be done latest by mid-September, ahead of the festive season.

Speaking on the sidelines of Motilal Oswal's 15th Investor Conference, Goenka said, "The festive demand would be more from rural areas than urban unless flood situation becomes worse than they already have been. So, festive season should be somewhat positive and if there is government intervention it would be more positive."

“If the government does not do anything by mid-September then I would assume that they are not in a position to do anything currently,” he told CNBC-TV18, adding "if there is something to be done, they should do it latest by mid-September ahead of the festive season."