SIAM hopes Auto Expo to be harbinger of good times

Chennai, Jan 21 (SocialNews.XYZ) With automobile companies expected to bring to the market the car models showcased in the upcoming Auto Expo - The Motor Show in Delhi, the consumer sentiment is expected to go into positive lane, said a top official of Society of Indian Automobile 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 a major part in the passenger vehicle whereas in the case of commercial vehicles it is the investments in infrastructure projects and for two wheelers demand is linked to rural economy.

Menon said the industry hopes the market will be better from the second half of the next fiscal.

He said the industry body has requested the government to introduce scrappage policy and reduction in Goods and Services Tax (GST) from 28 per cent.

According to Menon, the Indian auto sector the fourth largest in the world is passing through a transition from BS IV emission norms to BS VI norms.

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.

Source: IANS