CHENNAI: With more than 70 product launches lined up for the upcoming Auto Expo in Delhi, the Society of Indian Automobile Manufacturers (SIAM) feels this will help in revival of the consumer sentiments and give a much needed boost to the automotive industry.
Rajesh Menon, director general, SIAM, said consumer sentiments play a major part in the passenger vehicle segment whereas in case of commercial vehicles it is the investments in infrastructure projects.
“In last quarter, we have seen some positive growth in the market. It was mainly as new cars were launched which helped in revival of consumer sentiments. We expect new launches at the Auto Expo will boost the growth,” said Menon.
Of the 70 product launches, there will be at least 10 vehicle global launches at the Auto Expo - The Motor Show 2020 that will kick off from February 7 in Delhi. The first quarter will continue to be a difficult period for the industry, he said, hopping stability will be visible in the industry in subsequent quarters.
The expo will feature new emission technology products and vehicles with more stringent safety standards under one roof. Electric vehicles, hybrid vehicles, technology driven products will be the highlight of the expo this year.
It will witness many new entrants including start-ups who are participating and showcasing their products and technologies in green mobility. Last year, 11 start-ups had participated in the expo while this year its number will be 20. It will also see participation of many Chinese firms this year.
About drop in participation of Indian auto firms in the event, he said, “Some of them are not participating as they are busy addressing challenges they are facing due to the slowdown...”