Auto Sales Enters Fast Lane

At F A D A, it’s exciting times ahead!

Dear Dealer Colleagues,

The Indian economy posted a growth rate of 7.7% during the Q4 of FY17-18, enabling the country to retain its position as the fastest growing major economy. India shot past China's 6.8% growth for the same period. A faster pace of growth in manufacturing at 9.1%, compared with 6.1% a year ago, helped lift overall economic growth in this quarter. Further, the Hon’ble Minister of Heavy Industries, Mr Anant Geete said that Indian Automobile Industry is likely to contribute 12% to the country's GDP over the coming decade, from 7.1% at present. This will be a moment of great pride for all of us as we will contribute a larger share towards building the Indian Economy!

Coming to the sales number for the month of May 2018, the industry continued to witness strong demand with most of the verticals registering strong double-digit sales. The Indian Passenger Vehicle market has broken the 3,00,000 units/month barrier after eight months, with dispatches close to the peak volumes seen in last festive month of September 2017. Commercial Vehicle and Two-Wheeler makers too joined the party with strong set of numbers. 

At F A D A, it’s exciting times ahead for all of us as we recently signed an MoU with YES Bank to begin F A D A Academy. F A D A Academy aims to evolve into a mechanism for constant learning amongst the fraternity. When disruptions become inevitable, ignorance can prove to be fatal. Through this academy, we would not only provide a platform for acquiring knowledge but also encourage to think creatively and adapt to change.

With the implementation of E-Way bill, F A D A has been receiving quite a handful of queries as confusion prevails within the industry. We have, hence, requested our empaneled experts to provide clarity on the issues which are being faced by the Auto Retail Industry. Please be rest assured that we will also take up the issues with the right Government Officials as and when it is required. On the Used Car front, even though the GST rates have come down after F A D A took up the matter very seriously with the Ministry, it further needs to be brought down to make the organised used car business, a sustainable business model. We are working on the same and am hopeful that we will get a break through once again.

F A D A’s aim is to make the Federation every Auto Dealer’s one stop destination for any concern related to the Automobile Retail Industry. To facilitate this in an organized way, the Federation has started organizing ‘Vyapar Conference’ in every F A D A State Chapter. By doing this, we aim to update the dealers with upcoming changes in the business dynamics and insulate them with uncertainty and therefore keep them prepared for the future disruptions in this ever-changing environment. 

The events season at F A D A has begun as we have just concluded with Vyapar Patna. The dealers their witnessed top-quality speakers and content which was specifically designed with a focus on rural growth. The next pit-stop for Vyapar is Lucknow which is also clubbed with our next council meeting on 18th July and Kolkata on 24th August. I will urge members to attend these events and reap maximum benefits out of the same.

Times are changing and so is your Federation. Together, we will not only make F A D A strong but will also work towards preparing each & every member face the future, head-on!

With best wishes.

Yours sincerely

John K Paul

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