SIAM expects Auto Expo to be an omen of good times
CHENNAI: As auto companies are expected to bring to the market the car models exhibited in the next Auto Expo - At the Delhi Motor Show, consumer sentiment is expected to enter a positive line, said a senior official of Society of Indian car manufacturers ( SIAM ).
He also said about 20 start ups in the electric vehicle (EV) and related technology sectors will also showcase their offerings at the Auto Expo slated to crank start form February 7-12, 2020.
Over 70 vehicle launches are expected to happen at the Auto Expo. In the past automobile manufacturers had brought to the market the passenger vehicle launched at the Auto Expo and the same is expected to happen this time also, Rajesh Menon , SIAM Director General, told reporters here on Tuesday.
According to Menon, consumer sentiment plays an important role in the passenger vehicle, while in the case of commercial vehicles they are investments in infrastructure projects and the demand for two wheels is linked to the rural economy.
Menon said the industry expects the market to improve from the second half of next fiscal year.
He said the industry agency has asked the government to introduce a scrapping policy and a reduction in goods and services tax (GST) of 28 percent.
According to Menon, the Indian automotive sector, the fourth largest in the world, is going through a transition from BS IV emission standards to BS VI standards.
The focus of the Auto Expo will be on vehicle safety, EV, connected vehicles and clean vehicles.
The EV and hybrid vehicles showcased at the Auto Expo are expected to generate lot of interest.