Govt should take steps to revive auto industry’s growth; keen to work with ministries for smooth shift to BS-VI: SIAM
New Delhi: Auto trade physique SIAM on Friday expressed hope that the brand new authorities would take initiatives to revive development in all client items, together with vehicles.
“With the new government in place, I am hopeful that India will soon be on the path of economic growth, leading to the revival of the demand cycle for all consumer goods including automobiles,” Society of Indian Vehicle Producers (SIAM) President Rajan Wadhera stated in an announcement.
SIAM expects the federal government to accord precedence trade standing to the auto trade, he added.
Echoing comparable sentiments, SIAM Director Normal Vishnu Mathur stated: “As of now, the industry is going through a difficult period with a slowdown in demand across all segments. We hope that initiatives by the new government will help revive the demand.”
The trade additionally appears to be like ahead to working with all ministries involved for a easy transition to BS-VI, he added.
Home passenger car (PV) gross sales dropped by 17.07 % in April, the steepest fall since October 2011, as weak buyer sentiment led by liquidity crunch, uncertainty revolving elections and excessive product costs hit gross sales.
The gross sales declined for the sixth straight month in April to 2,47,541 items as towards 2,98,504 items within the year-ago month. It’s the worst dip in PV gross sales since October 2011, when gross sales had dropped by 19.87 %.
All main segments, together with two-wheelers and business automobiles, witnessed a decline in gross sales in April.
Firstpost is now on WhatsApp. For the newest evaluation, commentary and information updates, join our WhatsApp providers. Simply go to Firstpost.com/Whatsapp and hit the Subscribe button.
Your information to the newest election information, evaluation, commentary, reside updates and schedule for Lok Sabha Elections 2019 on firstpost.com/elections. Observe us on Twitter and Instagram or like our Facebook web page for updates from all 543 constituencies for the upcoming normal elections.
Your information to the newest seat tally, reside updates, evaluation and checklist of winners for Lok Sabha Elections 2019 on firstpost.com/elections. Observe us on Twitter and Instagram or like our Instagram or like our Facebook web page for updates from all 542 constituencies on counting day of the overall elections.