As the automotive industry in India awaits the implications of the Free Trade Agreement (FTA), top executives from leading car manufacturers have shared their perspectives on the potential impact on pricing and market strategies. Piyush Arora, MD & CEO of Skoda Auto Volkswagen India (SAVW), emphasized that now is an opportune time for customers to make informed purchasing decisions without waiting for speculative changes. He encouraged buyers to take advantage of the current lineup and offers available in the market.
Similarly, Balbir Singh Dhillon, Brand Director of Audi India, expressed a positive outlook on the FTA, stating that it could support the broader automotive ecosystem, including innovation, supply-chain efficiency, and technology collaboration. However, he cautioned that any implications for pricing and market can only be assessed once the final terms of the agreement are available and carefully reviewed. This includes considering the timeframe of implementation, which will be crucial in determining the impact on commercial and product strategies.
Both executives highlighted the importance of waiting for the final terms of the FTA before making any conclusions about pricing and market strategies. The FTA is expected to have a significant impact on the Indian automotive industry, with potential benefits including increased competition, improved quality, and reduced prices. However, the exact implications will depend on the specifics of the agreement, including tariff reductions, regulatory changes, and other provisions.
In the meantime, car manufacturers are advising customers to take advantage of current offers and lineup, rather than waiting for potential changes that may arise from the FTA. This suggests that the industry is confident in its current product offerings and is encouraging buyers to make informed decisions based on the current market conditions. As the FTA negotiations progress, the industry will be closely watching the developments and adjusting their strategies accordingly to remain competitive in the market. Ultimately, the FTA is expected to bring about significant changes to the Indian automotive industry, and car manufacturers are preparing to adapt to the new landscape.