SIAM bullish on auto sector revival

Since the penetration of automobiles in the country is low, many foreign players will look at this opportunity to enter India, he said here. “This is the worst downturn of the automobile industry in the last 20 years. However, we hope 2020 will be the year of revival of the Indian automobile industry, when sales may go up, considering the scope for foreign players to tap the domestic market,” SIAM Deputy Director Sugato Sen said.

On the upcoming Auto Expo to be held in Greater Noida from Feb 7 to 12, he said new players like Chinese automobile manufacturers Great Wall Motor and Haima will showcase their products for the first time in the exhibition.

Another Chinese player to make its debut in this event is MG Motors, which will bring in their entire range of automobiles in the Expo.

There will be around 70 launches in the Expo by SIAM members. “There will also be global launches by foreign players,” Sen said,

Stalls will be used todisplay electric vehicles also, he added.