Auto industry body SIAM on Friday said that manufacturers were not in a position to invest further in the implementation of upcoming government regulations as the sector was going through an extremely difficult period.
Society of Indian Automobile Manufacturers (SIAM) also noted that government support was required to pursue the targets set under the Automotive Mission Plan 2026 (AMP 2026).
“For (implementation of) upcoming regulations, investments are very steep and the commensurate revenues have not been realised by the industry due to lack of consumer demand,” SIAM President Rajan Wadhera said while speaking at the industry body’s annual convention here.
So, the industry does not have the ability to invest further into the implementation of new regulations like Corporate Average Fuel Efficiency (CAFE) norms from 2022 onwards, he noted.
Wadhera also said that there should not be an overdose of regulations as India’s emission standards are already at par with the strictest in the world.Seeking government support to offer some form of demand boosters, Wadhera said: “We feel that whatever we are talking on reviving demand will provide the required push to consumers to come to dealerships.”