Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
To re-attract consumers, the slowdown-dented automobile sector has lined up 60 launches, new technology offerings from debuting global brands at the biennial Auto Expo 2020.
In addition to auto manufacturers, Reliance Jio and social media giant Facebook will also be part of the 15th edition of the expo, being jointly organised by ACMA, CII and SIAM from February 7-12 for the general public, at the India Expo Mart in Greater Noida.
"Auto Expo 2020 is expected to be the biggest driver of consumer sentiment," Rajesh Menon, Director General of the Society of Indian Automobile Manufacturers (SIAM), told IANS.
"Passenger vehicle original equipment manufacturers, accounting for 85 per cent of the market share, and commercial vehicle OEMs, accounting for 75 per cent of the market share, are participating in this expo," Menon said.
Sixty launches of passenger cars, commercial vehicles and two-wheelers are expected to showcase the future of mobility in the country.
Many of these launches are expected to be face-lifts of existing models with BS-VI compliant engines as the country is shifting to BS-VI from April 2020.
The healthy participation and launches assume significance as the sector has been battered by falling sales due to high goods and services tax (GST), farm distress, stagnant wages and liquidity constraints.
While some companies had to reduce production, dealers took inventory correction measures.
In terms of participation, brands like Volkswagen, Skoda, Force Motors will make a return to the motor show, FAW Haima, Great Wall, MG Motors and others will make debut.
Lately, telecom operators have entered the segment to provide connectivity to internet-enabled cars and Jio will be showcasing embedded SIM technology for the automobile sector.
Facebook will host a town hall discussion and will also be hosting other events.
The expo 2020 will also feature more than 15 startups, which will showcase technology solutions focused on green mobility and services connected to the automobile industry.
Lithium-ion battery and charger manufacturers, along with tyre firms will also showcase their presence at the auto show.