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Owing to the severe impact on the overall sales of automobiles in India, following the spread of Covid-19 pandemic, the Indian automotive sector is pinning its hopes on the long-awaited Vehicle Scrappage Policy to spur the growth of the sector. While the policy is expected to be before the Union Cabinet for approval, industry experts believe that the benefits of the policy can only be achieved by incentivizing purchase of new vehicles in exchange for scrapping older ones. However, despit...
Auto dealers cheer government’s MSME decision
Automotive dealerships that play a key role in the auto value chain were impacted during the pandemic due to declining sales, lockdown restrictions, and high finance and maintenance costs. No wonder the government’s recent announcement to include the retail and wholesale trade under the ambit of Micro, Small & Medium Enterprises (MSME) has been welcomed by the dealership fraternity who can now look ahead to availing the benefits and subsidies offered by the states to MSMEs. ...
