As Society for Indian Automobile Manufacturers (SIAM) Annual Convention starts today, CNBC-TV18 caught up with the biggest and the best voices from the auto industry. S Sandilya, Chairman of Eicher Motors and Rajan Wadhera CEO of Automotive at Mahindra and Mahindra (M&M) spoke about the key challenges faced by the industry.
Cars are doing slightly better, commercial vehicles (CVs) still to take off said Sandilya.
Tax rates on cars and sport utility vehicles (SUVs) are very high in India and with goods and services tax (GST) it has gone up which is concerning, he added.
He expects the government to see to the fact that this does not jeopardize the industry.
Rajan Wadhera said electric vehicles are emission free vehicles so the focus on electric vehicles must be retained and that is a part of a responsible growth.
On festive season demand, Wadhera said all of us like to buy vehicles during this time so I would give it more for the festival season.
We expect to continue with the strong double digit growth for the entire FY18. Confident of double-digit growth target even if the cess will kick in, RS Kalsi, Executive Director of Maruti Suzuki India said.