The Federation of Automobile Dealers Associations (FADA) hosted the fifth edition of the Auto Retail Conclave, focusing on the theme “Collaborate-Innovate-Accelerate”. The conclave witnessed the presence of prominent figures automobile industry, alongside participation from over 500 dealer members representing various regions of the country.
The Conclave was inaugurated by Shri Nitin Gadkari, the Union Minister of the Ministry of Road Transport & Highways, Government of India. Also present on the occasion were Vinod Aggarwal, President SIAM, Shradha Suri Marwah, President ACMA, along with Manish Raj Singhania, President FADA, and C S Vigneshwar, Vice President FADA.
Nitin Gadkari, Union Minister, MoRTH mentioned, “I would like to extend my heartfelt congratulations to the automobile industry for India becoming the third largest automobile manufacturer in the world. However, our aspirations reach even higher—we aim to position ourselves as the world’s leading auto manufacturing hub, and this ambition will require a collaborative effort, uniting India’s strengths with global brands.
Manish Raj Singhania said, commented, “The automobile 2Wheeler industry is an important part of the mobility ecosystem, and hence urged the government to reduce the GST rate from 28% to 18% for entry-level 2-wheelers in the 100-125 cc range. This change isn’t just a policy adjustment; it’s a catalyst for socio-economic progress.”
Auto retail encompasses more than the sale of vehicles; it encompasses road safety, employment, and sustainability. The Indian Auto Retail isn’t merely recovering; it’s thriving! In the last fiscal year, we witnessed a resurgence, achieving a record-breaking 21% growth rate with 22.1 million vehicles leaving our showrooms. Two-wheelers surged by 19%, three-wheelers by a staggering 84%, passenger vehicles by 23%, and commercial vehicles by an incredible 33%. Despite this remarkable progress, the 2-wheeler segment remains 20% below pre-Covid levels. In the last five months Auto sales have grown by 7%.
The conclave witnessed the unveiling of the Auto Dealers Day Logo, which is to be celebrated on the 19th of September.
FADA felicitated HCIL for signing this New Dealer Agreement in accordance with FADA’s MDA, emphasizing the industry’s collaborative and forward-thinking approach. Honda Cars India Ltd. has exemplified its commitment to industry best practices by aligning its new dealership agreement in sync with FADA’s Modern Dealership Act draft.
The conclave witnessed a series of sessions with industry-abled leadership sharing their views & vision for the sector & its challenges. The key Power Panel discussion was on strengths and opportunities in 2-wheelers and 3-wheelers, followed by strengths and opportunities in Passenger Vehicles and Commercial Vehicles.
