Rajan Wadhera, President of the Society of Indian Automobile Manufacturers (SIAM), expressed the inability of the automobile sector to invest further into the upcoming safety regulations as the Indian industry is already reeling under the impact of COVID-19 pandemic. He urged the government to intervene to resolve the problems faced by the automakers.
At the 60th SIAM annual convention, Wadhera pointed out issues faced by the domestic auto industry manufacturers. “The depreciation of this investment is huge, and the commensurate revenues have not been realised by the industry due to the lack of consumer demand,”.
Rajan Wadhera is the Senior Advisor in Mahindra and Mahindra ; President of SIAM and Chairman CII National Committee on Future Mobility and Battery Storage. He is the Ex-President of Mahindra & Mahindra (M&M).
“We are getting decent inquiries for the festive season and August has seen festive season already across some parts of the country. The passenger vehicle has been good in the dispatches to the dealer. A similar effect we are seeing in the ground reality also. We are still not seeing growth YoY but things are coming to a near-normal and the retail sales in the passenger vehicle is better compared to the two-wheelers.”
“We make a strong plea to the government that our industry is not in a position to invest in new regulations like CAFE and RDE which are likely to come in two years,” the SIAM President said.
“October, November is going to be very good months. My own understanding is that industry is going to be in for good times,” he said.
We’re in discussion with @FinMinIndia on GST issues. Announcement on the scrappage policy will be made soon. I am confident that the industry has the wherewithal to achieve AMP 2016-26 targets, says Mr @PrakashJavdekar, Hon’ble Union Minister of @moefcc, @MIB_India & MoHI & PE pic.twitter.com/PqRZMMES9P
— SIAM India (@siamindia) September 4, 2020
Vinkesh Gulati, the current vice president and soon to be president of the Federation of Automobile Dealers Association of India (FADA) said, “I feel CV segment will take some more time than the other segments because it is based on the economy and I am not seeing economy coming up very soon to their pre-COVID levels and CV segment has already been in stress for the past 10 years, so I feel CV segment coming back to normal or seeing a good growth is another six-eight month ahead from today.”
Our President, Mr @RajanWadhera1, welcomes the recent statement by the Hon’ble Finance Minister on the merit in reducing GST rates for two-wheelers#BTNR pic.twitter.com/4L0PDHBoXx
— SIAM India (@siamindia) August 26, 2020
