The Indian automotive industry occupies a leadership position across the globe, ranking first in two-wheeler (2W) production and fourth overall in all the segments. Multiple factors like rising population, increasing income levels, high GDP growth rates, rising exports, increasing need for mobility and rising consumer aspirations have contributed to this surge in the country’s vehicle production.
To take a monumental leap towards a clean future, the government is providing significant encouragement for the adoption of electric vehicles (EVs) through various initiatives and policy decisions. The approval of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)-II scheme in February 2019 and the major shift to the new BS-VI emission norms from April 2020 are big moves. With pronounced incentives in FAME-II of INR 1.5 lakh each to 35,000 e-four-wheelers with an ex-factory price of up to INR 15 lakh, the industry expects a faster adoption of clean electric mobility and enhanced international competitiveness of the sector.
This edition of Auto Track provides deep insights into the sales performance of the auto industry during January-March 2019, along with the latest regulatory updates and leading stories of the quarter.