Keep calm and carry on in India’s slumping car market

Don’t tell Hironori Kanayama that investing almost $500 million in a market enduring its worst slump for 12 years is a questionable business decision. Honda Motor’s India head sees only one way forward: Keep calm and carry on.

Global carmakers such as General Motors’ and Volkswagen that have between them poured billions of dollars into factories, product development and marketing in India’s once-booming car market are now struggling as slow economic growth, high interest rates and rising fuel prices keep their target customers from parting with their cash.

via Business feed http://www.scmp.com/business/companies/article/1217386/keep-calm-and-carry-indias-slumping-car-market