SIAM bullish about revival of vehicle trade; says gross sales anticipated to go up this yr
Kolkata: Society of Indian Vehicle Producers (SIAM), the apex physique representing all main car and vehicular engine producers within the nation, is bullish on the revival of the car trade in 2020, a senior official stated on Monday.
For the reason that penetration of cars within the nation is low, many overseas gamers will take a look at this chance to enter India, he stated right here.
“This is the worst downturn of the automobile industry in the last 20 years,” SIAM deputy director Sugato Sen informed reporters right here.
“We hope that the year 2020 will be the year of revival of the Indian automobile industry. Sales are expected to go up as penetration of automobiles in India is very low,” Sen stated.
He stated many overseas gamers will take a look at this scope to enter the Indian market.
On the upcoming Auto Expo to be held in Higher Noida from 7 to 12 February, he stated new gamers like Chinese language
vehicle producers Nice Wall and Haima will showcase their merchandise for the primary time within the exhibition.
One other Chinese language participant which might be additionally current for the primary time is MG Motors which can deliver of their complete
vary of cars within the Expo.
There might be round 70 launches within the expo by SIAM members within the expo.
“There will be also global launches by foreign players,” SIAM deputy director stated.
Sen stated all stalls will show electrical automobiles (EV). The dip in business automobiles is because of the new axle
loading norms introduced by the federal government which has hit gross sales, he stated.
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