Leading carmakers to showcase vehicles at Auto Herald
Published on Thursday, 28 February 2013 12:13
Herald, Goa’s most trusted media house, is organising the biggest automobile expo – Auto Herald, at Margao. The 3-day auto show will be held at SGPDA Ground, next to KTC Bus Stand, Margao from March 1 to 3, 2013. The expo will be on from 3 pm to 9 pm.
Bullish on the market and participating in the four-wheeler space at Auto Herald are Mercedes-Benz, Alcon Hyundai, Goa Hyundai, Maruti, Nissan, Renault, Tata cars, Mitsubishi and Force.
In the two-wheeler space Premier, Piaggio, Yamaha, Hyosung, TVS, Bajaj, Honda, Suzuki and Vespa will be displaying their latest offerings.
Adding glamour to the event will be a Vintage car display, fashion shows and dance show on every day of the 3-day expo.
The expo comes after a particularly difficult year for the auto industry specially with regards to high interest rate regime. But now with the RBI softening its stance and banks lowering lending rates, the outlook for the auto industry in 2013 is positive.
Cashing in on the opportunity will be nationalised banks – State Bank of India, Canara Bank, Corporation Bank and Indian Overseas Bank – offering various auto-finance options to customers.
In fact, India Ratings, part of the Fitch group, believes that the likely 10-11% year-on-year volume growth in commercial vehicles (CVs) in 2013 would be driven by sales of light commercial vehicles (LCVs) which are likely to post volume growth of 13-15% year-on-year.
With excellent roads and one of the highest per capita incomes in the country, Goa is considered a lucrative market by the auto industry. The luxury segment in both the 4-wheeler as well as the 2-wheeler is doing exceedingly well with the State enjoying one of the highest concentration of luxury vehicle ownership in the country. Almost all luxury brands present in India have already set up shop in Goa.
Also increased government spending on infrastructure and other supportive fiscal measures could lead to year-on-year MHCV volume growth of 3-4% in 2013 as per India Ratings' base case. [H]