Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
News18 » Auto
1-min read

Festive Season to be Decisive for the Indian Automobile Sector: Pawan Goenka

Mahindra and Mahindra MD Pawan Goenka hopes that the upcoming six weeks of the festive season can revive the automobile sector from its current sluggish sales trap.

PTI

Updated:September 25, 2019, 9:55 AM IST
facebookTwitterskypewhatsapp
Festive Season to be Decisive for the Indian Automobile Sector: Pawan Goenka
Image for Representation (Reuters)

Mahindra and Mahindra (M&M) Managing Director Pawan Goenka said on September 23 that there was a sign of revival in the automobile sector, and the coming festive season will be "decisive". "The automobile sector was sluggish for the last 12 months. But with the Centre's slew of measures to give a flip to the economy since July 6, we are seeing the sluggishness giving way to positivity," Goenka told reporters here. There was hope for the revival of the automobile market with the onset of Navratra (Durga Puja) following good rainfall in large parts of the country and improvement in banks' finances, he said.

"The six-week festive season starting with Navratra is going to be decisive. If the sale remains encouraging, the automobile sector will gather pace," Goenka said. Asked about the automobile industry's demand for reduction in Goods and Services Tax (GST), Goenka said, "It was easy for us to make such a demand, but for the government to keep its financial position steady, it has to strike a balance. "The government has brought down the corporate tax in a short duration, bringing delight to industry, which no one expected," he added.

"People's desire to buy new cars has not dampened. But I am a bit concerned over the heavy vehicle truck segment, which has been hit hard. This segment relies on the transportation sector which would gain pace when the economy flourishes," he added. M&M has started exporting electric two-wheelers to Europe from its plant in Madhya Pradesh's Pithampur Industrial Area near Indore, he said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Chhavianshika Singh
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results