New Delhi: Dented by the consumption slowdown, the road ahead for Indian automobile industry is “difficult” due to the upcoming transition from BS-IV emission norms to BS-VI, Society of Indian Automobile Manufacturers President Rajan Wadhera said on Wednesday. Speaking at the Federation of Automobile Dealers Associations’ Auto Retail Conclave 2019, he noted that even as the industry faces the sales slowdown, OEMs have been investing Rs 1,000 crore, on an average, to upgrade their offerings.
Industry expect further sales slowdown once BS-VI norms are implemented. These norms are expected to ramp up prices and further dent consumer sentiments.
At present, the sector has been going through a slowdown due to several reasons including the high goods and services tax (GST) and liquidity crunch. (IANS)