Auto Expo to Kick Off Today; to Showcase 70 New Models - The New Indian Express

Auto Expo to Kick Off Today; to Showcase 70 New Models

Published: 05th February 2014 06:00 AM

Last Updated: 05th February 2014 01:22 AM

India’s largest bi-annual auto extravaganza gets underway on Wednesday at a time when the auto sector is wading through a prolonged slowdown and is witnessing dismal growth because of poor business sentiment, high cost of capital and a depleting customer base.

Organisers and industry are hoping that the auto show will help revive customer interest which will eventually translate into a pick of sales this calendar year. To make the offerings more attractive, vehicle makers be it two-wheelers or cars are offering models for every budget.

“There is pent-up demand, but consumers are delaying purchases because of factors like lesser income, high interest rates and inflation. We are hoping that this expo will draw them out to trigger demand, although the revival in the automobile market is unlikely unless there is a revival of economic growth,” SIAM president Vikram Kirloskar said on Tuesday.

Annual car sales have declined for the first time in 11 years in 2013, posting a 9.59 per cent dip.

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