Budget 2013: FADA’s Wish List

Dear friends,

As I write this message, the presentation of Union Budget 2013 by the Hon’ble Finance Minister is round the corner. There is a palpable excitement and, at the same time, nervousness as to what the Budget is going to bring in for the industry and other sectors of economy, as also the society as a whole that is faced with severe inflation and job uncertainties arising out of the slowing economy.

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Continuing Slowdown a Cause for Concern

Dear friends,

The December 2012 sales figures are not enthusing, to say the least, and the auto market is once again faced with the prospect of a severe slowdown. Automobile dealer fraternity was banking a lot on the advent of 2013 to bring the much needed buoyancy back in the market. What I hear from my fellow dealers from across the country is that even the New Year has failed to rev up the mood, with customers shying away from the showrooms. Whatever footfalls are there in the showrooms are not getting converted into sales.

What is worrisome is that hopes of early revival of the market have started subsiding. The issues, such as, depressed economic environment, inflation and high fuel prices & interest rates continue to dog the auto market. The external factors, particularly, slowdown and subdued economic activity in Europe, leading to India’s widening trade gap, are not helping either.

However, there are straws in the wind, which offer cold comfort for the auto market, in particular, and economy, in general.

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A Guarded Optimism

Mohan Himatsingka, President

Dear friends,

As I write this message, India s long auspicious festival season culminating in Diwali is over. I am sure, you must have had a lot of fun, gaiety and blast during the festivities. This festival of celebrating the victory of good over bad is awaited eagerly by one and all in India. With the Government and companies, generally doling out incentives and bonuses to their employees during the period, the people are on spending spree. The festival is, therefore, a bonanza and a god-send opportunity for the business in general and auto market, in particular, to cash in on.

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Mixed Signals

Mohan Himatsingka, President

Dear friends,

The great Indian festival season beginning in September 2012 came to an end with the celebration of Diwali.Auto market was counting a lot for its revival on the festival season when people in India go for big-ticket purchases. What I understand from my fellow dealers is that the expected festival season boom has failed to materialise in November 2012, dampening the hope for a modest growth in the current financial year.

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Staying on Course

Mohan Himatsingka,

Dear friends,

At the outset, I express my profound thanks and gratitude to FADA Council and you all for reposing your confidence in me by electing me as the President of this august body. With your support, I will try me best to live up to the high standards set by my predecessors and rising expectations of the automobile dealer fraternity.

As you would have observed, the last few years, in particular, have seen the feverish activity within FADA that has embarked on a clutch of new initiatives for the benefit of automobile dealers while sustaining the tempo of activities already undertaken.

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