Hyderabad sources have stated that the officials of Society of Indian Automobile Manufacturers (SIAM) said despite roadblocks like GST demonetization, the auto industry had managed to gather pace this fiscal growing at a higher 9-10% as compared to 7-8% last fiscal and the growth was primarily driven by high demand from the tier-II and III cities.
Arun Malhotra, senior corporate advisor, Nissan Motor India, and SIAM member, said “Till November, we have seen a growth of 9-10% and expect the numbers to remain the same this financial year. We are seeing a trend wherein small towns are growing rapidly. When we say the growth has been 9-10% nationally, the market in Delhi, Mumbai, Bengaluru, has grown by 6% but centers like Akola, Amaravati, Karimnagar have been growing at a faster clip as people too are spending more and have higher aspirations".
Moreover, Sugato Sen, deputy director general, SIAM, said, “In this edition, along with static displays of automobiles we will also have a more dynamic showcase of total mobility solutions, offering a holistic perspective of the auto industry".
Honda Company is targeting parts exports to the tune of Rs. 1500 Crore New Delhi sources have stated that Indian arm of Japanese car maker Honda Cars India is gunning to up its component exports from India to overseas markets. It is targeting parts exports to the tune of Rs 1500 crore in the current financial year (2017-18) up 31.57% from Rs 1140 crore posted in FY17.
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