The Indian auto market foresees a struggling time ahead as the building material, marketing and workforce costs are likely to climb new heights soon. In view of the periodic blows and cyclic threats faced by the auto market frequently in the past, the plans for the future are likely to be based on the theme, `Shifting Gears – Terrain Ahead’. The discussions regarding the formation of full proof mechanism to counter menaces would be a part of the 7th Auto Summit that is organised by Federation of Automobile Dealers Associations (FADA). It will take place on 9th and 10th January 2012 in New Delhi, amidst the Auto Expo 2012 that kick starts from 7th January.
The Summit is being seen as a tool that would be of considerable help amid volatility and stagnating growth in the market. The growth has been in poor state from a long time and the Indian auto market is yet again facing the repercussions of weak sentiments. Along with the industry, auto dealers would also have to strengthen their base to cushion themselves against present and future challenges. The theme of FADA’s 7th Auto Summit focusses primarily to start the use of strategies that will rectify the persisting situation in the best possible way.
Nikunj Sanghi, President, FADA said, “The Summit is being held in the midst of a none-too-buoyant automotive market and, for that matter, economic scenario, which are looking somewhat subdued. The macroeconomic indicators are not encouraging either to rekindle the hope that the present downbeat sentiment is transitory and will pass off soon. Signals emanating from Euro zone are disturbing. Rupee is witnessing a free fall, making imports costlier.”
Thus, the auto market has to turn every stone in order to gain immunity against the anti-trends that have gripped the industry currently.
