On Tuesday, Finance Minister Nirmala Sitharaman said that factors like the upcoming BS6 emission norms and preference of millennials for Ola and Uber have affected the Indian automobile industry.

Nirmala Sitharaman said millennials are not buying cars any more.

While speaking about the slowdown in the auto industry, Nirmala Sitharaman said this change in the mindset of millennials is one of the big reasons behind the crisis.

This statement did not go down well with millennials and they began expressing their views in the way they know best: by posting about it on social media. Nirmala Sitharaman's comment saw her becoming the butt of jokes.

Within minutes, #BoycottMillennials started trending on Twitter. Have a look.

Well, done with your memes? The Finance Minister was not giving her own opinion on the automobile industry. She was, in fact, quoting a global study.

Nirmala Sitharaman's exact words were, "Some studies do tell us that mindset of millennials, who are now preferring not to commit an EMI (equated monthly installment) for buying an automobile, instead prefer to take Ola, Uber, everything else, or take the Metro... A whole lot of factors are influencing the automobile sector. We are trying to solve the problem for them."

Deloitte's 2019 Global Automotive Consumer Study said consumers in India feel empowered trusting the power of digital solutions that make their commute safer.

The findings of the study revealed that compared to the older generation, younger consumers are more likely to understand the idea of shared mobility and to question whether vehicle ownership is a necessity.

Talking about the findings of the study, Deloitte India Partner Rajeev Singh said, "It is expected that the younger audience would subvert the trend of personally owned vehicles in the time to come with their growing affinity, towards shared mobility and digital technologies."

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