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Report: Ola, Uber popularity sees a downfall in Cars demand by one-third in last 2 years

The cab services Ola & Uber gained popularity in the last few years; however, now their popularities are hampering the demand for the passenger vehicle. As per SBI report, cab aggregators caused a downfall in demand by 1/3rd in last 2years. In the last fiscal, auto companies registered a mere single-digit growth, the sector grew by around 2% to around 3.3-3.4 million units, despite discounts offered by car makers.