Indian automobile sector is on the cusp of great transformation, say industry honchos at SIAM Annual Convention

Delhi, Sept 16th, 2022: Society of Indian Automobile Manufacturers(SIAM) organized its 62nd Annual Convention on Thursday in New Delhi.

SIAM Annual Convention 2022 was held with an aim to gather senior leaders from the Government, Policy Makers, and Industry Experts to deliberate and brainstorm strategies for the future of Sustainable Mobility.

In conversation with Ten News, prominent industry leaders and experts of the automobile industry shared their views about the upcoming development and challenges.

The Chairman of IN-SPACe, Dr Pawan Goenka noted that the automobile industry faced several problems including the pandemic, supply chain, high commodity prices, and high logistic costs.
“Things are going back to normal and it is also notable that the demand and production have increased”, he said.

Talking about the efforts of the government, Goenka said that the schemes and initiatives launched by the govt has been a huge help to the sector.
“The PLI scheme in particular has been very beneficial. The government is the helping hand of the automobile industry”, he said.

The Vice President of Mercedes Benz India, Shekhar Bhide remarked that the transformation of the vehicle industry is quite evident and successful.
“The transformation is particularly taking place due to factors like introduction of electric vehicles, sustainable development, and awareness among the people about the environment”, Bhide said.

The Chairman of Yamaha Motors India, Eishin Chihana mentioned that the Indian automobile market has great potential, modernised, and is quite promising.
“The growth of this sector in the next ten years will be outstanding”, he said.

The President and CTO of Ashok Leyland, Dr N Saravanan, said that the current developments, especially the creation of alternative sources of fuel, such as bioethanol is very fascinating.

The Assistant Vice President of Hyundai Motors India, Puneet Anand said that the Indian automobile sector has learned a lot during the pandemic, and has evolved and progressed on a great scale. He further said that the initiatives of the government help to motivate the workers of the vehicle industry and to develop indigenous products as well.
“We will also see a slow but steady transformation from diesel/petrol vehicles to electric vehicles and this would be a huge evolution for all of us”, Anand said.

The Chief Managing Director of Piaggio Vehicles, Diego Graffi remarked that the in near future, electric vehicles, especially two-wheelers will be quite prominent in India, thus helping to preserve the environment.

The President and CEO of Honda India, Atsushi Ogata said that the automobile industry has bounced back with even more vigour and grown bigger and better after two years of the pandemic.