Kolkata, 20 January: Looking for a revial of the country’s two billion USD Automobile industry this year, after its sales nosedived last year, the country’s biggest biannual ‘Auto Expo- 2020’ will be held in Geater Noida from 7 to 12 Februay showcasing over 600 passenger cars and commercial vehicles for the first time.
Anouncing the organisation of such a prestigious Motor Show,Sugato Sen,Deputy Director General, Society of Indian Automobile Manufacturers(SIAM),said here this afternoon that Auto Show had been the most effective launch pad for a large number of key brands of both passenger cars and commercial vehicles in Indian market where a number of rew products were being unveiled every year to create some sort of history in the automobile industry.
Referring to the present moribund condition of the Indian automobile indudstry primarily because of the economic slowdown,Sen said since the second half of last year the overall sales of new vehicoles had nosedived forcing several car manufacturets not only to limit and re scehule their production lines, but also showing the doors to many employees to halt further losses.
As a result the overall turnover of the industry had come down to Rs 8,21,000 crores last year from well over Rs 10 lakh crores earlier.
‘We are currently passing through the worst period of car sales of the past two decades’, Sen said and hoped that following the beginning of a speedy recovery of the national economy, ‘the car industry would turnaround soon and once again look up for better days’.
Later during a separate interaction on the sidelines of the meet,Sen told after experiencing a negative growth of around 5 per cent in terms of passenger car sales in India last year, in the current month they had recroded a marginal growth of about 3 percent.
Describing such a trend as the only siliver lining of the huge industry, he said however, in terms of the Commercial vehicles the sales growth was obly about 0.4 per cent compared to a loss of 5.7 per cent late last year.
About the week long Auto Expo, he said though the number of stalls this year had been reduced to 98 from 119 last year, as many as 70 odd new cars,comprising the
petrol,diesel,electric and even hybrid version would be launched in this year’s extravagant show,whcih was likely to be inaugurated by union Surface Transport and Higway minister Nitin Gadkari.