Budget 2020: What does the auto industry expect?

Union Budget 2020: What does the auto industry expect?

Representative image. (Credit: Pixabay Photo)

By Jatin Ahuja

We are aware that there has been a downturn in the overall auto industry lately and the challenges have directly affected the mainstream luxury car industry. Thankfully, with our expansion drive opening more avenues at the right time, we can create excitement in the market despite these challenges. We had registered a growth of over 20% in 2019 and we expect to sustain this growth momentum in 2020 also. The pre-owned luxury car segment is eyeing 50% growth with this year’s Union Budget. We are also expecting the government to align its electric mobility vision with challenges faced by automakers and auto-dealers in terms of innovation and elasticity. The automobile sector is a crucial contributor in country’s GDP and so the government must take steps to ease the implementation of Bharat Stage VI norms which may lower the demand until the public fully understands the policies.

(Jatin Ahuja is the founder, of Big Boy Toyz)