The effects of the slowdown in the Indian auto industry have probably led to a decrease in the number of automotive manufacturers taking part in the 2020 Auto Expo in the National Capital.
The Auto Expo 2020 which is scheduled to take place in Greater Noida from the 7February to 12 February will not feature major automobile companies like BMW, Lexus, Toyota Kirloskar Motors, Honda Cars, Ford, Fiat along with leading two wheeler manufacturers such as TVS, Hero MotoCorp and Honda Motorcycles as per the report by CNBC-TV18.
The recent data released by SIAM (Society of Indian Automobile Manufacturers) shows that new car sales are down by 24 percent and commercial vehicles dropped by 62 percent. The market has been on a low for the last six months and this seems to be the major reason for the big guns opting out the Auto Expo 2020.
The cost of participation seems to be a concern in the Indian Auto Expo as it is estimated to be around Rs 30 Crore including the setup, installation, man-power and logistics. Auto shows worldwide is a platform for manufacturers to exhibit their cutting edge technologies and concepts cars which they plan to introduce in their line of business. But the Indian Auto has become more of an exhibition for launching upcoming cars in the last few years.
However, the good news is that other leading car manufacturer’s including Maruti Suzuki, Mahindra and Tata will be present to reveal their newest concepts and electric cars.
International car brands like Mercedes, VW, Skoda, and the latest players in the Indian car market Kia along with MG Hector will be present to show off their range of upcoming cars. French automaker Citroen and Great Wall Motors from China have also confirmed their participation.