Auto Expo kicks off in Hyderabad

In the first half of this year, Indian auto industry grew largely due to increase in export sales that is increased by more than 24 percent as compared to the last year. A slew of incentives in the European market, including scrapping of older cars and replacing them with the new more fuel-efficient cars, has spurred the export market, according to the Federation of Automobile Dealers Associations president, SP Shaw.

He said that there is a need for the government to provide a cushion in the form of incentives to the automobile segment to continue the growth momentum. As in the second half of the year would be the less than as compared to the first half.

After the inauguration ceremony of this International Auto Show, a three-day exhibition which is kicked off here on Friday, he added that the commercial vehicle market was standstill for sometime and there were no signs of revival in the near future as availability of funds was still a problem.

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