As the industry struggles with a slump in sales for 11th consecutive month, major auto makers in the country have decided to skip the upcoming Auto Expo in 2020. CNBC reports that automakers are citing the current slowdown, inventory levels and Bharat Stage Six (BS-VI) transition as a challenge.
Reports citing sources close to the matter have stated that manufacturers have now decided to prioritise resources rather than undertaking high expenditures such as the Auto Expo. Among the ones who have decided to not participate are Hero MotoCorp, TVS Motors, Ashok Leyland, Honda Cars, Honda Motorcycles and Scooters, Toyota Kirloskar Motors, BMW, etc.
"The domestic two-wheeler industry has been passing through a time of volatility, with market demand still continuing to be sluggish. Notwithstanding these challenges, Hero MotoCorp - and indeed the entire industry - is gearing up for the migration to the new emission norms ahead of the mandatory deadline of April 1, 2020," a statement from Hero MotoCorp said.
In light of the same, the event organisers are in discussions with the manufacturers and there is a possibility that some of them may finally register for the event. However Tata Motors, Maruti Suzuki, Mahindra and Mahindra, Hyundai Motors, Kia Motors, MG Motors, Great Wall, Renault, Mercedes, Skoda, Volkswagen, Force Motors, JBM Auto, SML Isuzu Limited, Suzuki Motorcycles are participating in the event, sources in the know told CNBC-TV18.