Held close on the heels of the automotive industry gearing for the festive season and emerging stronger from the pandemic induced hardships, the 60th SIAM Annual Convention was all for an inclusive approach and a united effort. Vehicle sales were down by 75.49 per cent to 14,91,216 units in the April-June (Q12021) with Q2 showing green shoots. In comparison to sales, production declined by 79.39 per cent to 14,86,594 units in the same quarter. Exports, on the whole, declined by 63.49 per cent to 4,36,628 vehicles. With this perspective, admitting to the worse slowdown in two decades, averred Rajan Wadhera, Past President, SIAM and Senior Advisor, Mahindra & Mahindra, “Even with the supply disruptions and domestic lockdown in 2020, the Indian automobile industry is hopeful of demand recovery.”
Demand and supply bottlenecks
Uday Kotak, President at Confederation of Indian Industry (CII) and Managing Director and Chief Executive Officer, Kotak Mahindra Bank linked the growth in infrastructure to the industry’s growth. To drive the sectoral recovery, he advocated for strong investments by the government in road infrastructure. Quipping that the past months were a “never-normal” phenomenon, he lauded the leadership demonstrated by Original Equipment Manufacturers(OEM) to address the supply-side issues and in turn open the door to new opportunities. He emphasised upon the need to iron out the creases on the supply-side ahead of complete demand recovery, calling out the government to ensure better coordination between the centre and the states.
This story is from the November 2020 edition of Auto Components India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2020 edition of Auto Components India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
BUSWORLD SOUTHEAST ASIA: A PREVIEW
The third edition of Busworld Southeast Asia 2024 assures a blend of comfort, innovation, and sustainability this year,
INDIA RUBBER EXPO 2024: THE RUBBER INDUSTRY LANDSCAPE
In the fast paced metropolis of Mumbai, the towering skyscrapers and bustling streets made for a perfect backdrop to the India Rubber Expo 2024 (IRE 2024). Hosted by the All India Rubber Industries Association (AIRIA), this biennial spectacle aimed to reshape the rubber industry's landscape, both at home and abroad write Aditya Sharma and Upendra Kasbekar.
NO SILVER BULLET
In an upfront conversation, Akshay Kashyap, CEO and Managing Director of Greenfuel Energy Solutions Pvt. Ltd. shares his thoughts on the future transport fuel with Deepti Thore.
GREEN GAS SYSTEMS AND STORAGE
Greenfuel Energy tops the list for reliable clean gas systems and energy storage solutions. Deepti Thore highlights its market acceptance.
INDIA EVS COST LESS OVER LIFETIME BUT FACE UPTAKE HURDLES
The lifetime costs of electric vehicles in India are less than those of Internal Combustion Engine (ICE) models across most vehicle segments. This facilitates adoption, especially for low-speed two- and three-wheelers as per the findings of BloombergNEF’s latest report, writes Ashish Bhatia.
WIDE-BODY DUMP SERIES
Allison Transmission has developed the Wide-Body Dump series for Heavy-Duty off-road applications. Ashish Bhatia looks at the advanced attributes that will come into play.
AUTOMATED COMMAND STEERING FUNCTIONS
The Government of India wants a permanent agency to expedite the publication of standards and development of test facilities in parallel,
CHARGEQ EV ECOSYSTEM
ChargeQ is building the EV ecosystem with unique offerings for emergency charging and an emphasis on grid balancing,
NIPPON MASTERCRAFT FOR THE LUXURY SEGMENT
Nippon Paint India, the leading paint and coating company in the Asia Pacific has launched an aftermarket one-stop shop brand Mastercraft.
ATMA SPOTLIGHTS TYRE INDUSTRY TRENDS
At the ATMA Annual Conclave, stakeholders of the tyre industry deliberated on greater sustainability and the adoption of emerging technologies to enhance productivity, writes Richa Tyagi.