6 ways to reignite India’s auto industry9 min read 15 Oct 2019, 10:22 PM IST
The automotive ecosystem can use these six proactive actions to hasten that much-needed turnaround in growth
Market forces should decide between an internal combustion engine vehicle, a hybrid electric vehicle and a battery-electric vehicle
What started as a small fire – a dip in the sales volume of commercial vehicles in September 2018, immediately after the regulatory change in axle load norms – has turned into a full-blown conflagration in a year, engulfing at least five segments of the broader automotive industry in India, comprising commercial vehicles, passenger cars, two-wheelers, tractors, and construction equipments. These segments are down 15-40% in their monthly sales volumes (year-on-year), a slowdown so severe that it has led to inventory pile-up, stalled production lines, drying up of supply chains, languishing dealership operations, postponed investments and hurtful job losses.
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