'Auto OEMs will have to show responsibility towards cleaner mobility'
Tarun Garg, Director of Sales, Marketing & Service - Hyundai Motor India Limited, shares his insights on key trends in consumer behaviour, transition towards cleaner mobility and future expectations
MIRROR NOW, in collaboration with exchange4media Group, is curating a series of video interviews, ‘MIRROR NOW Dialogues with VinayTewari’. In the second part of this series, Vinay Tewari, Managing Editor, Mirror NOW interacted with Tarun Garg, Director- Sales, Marketing & Service - Hyundai Motor India Limited on the topic "Reimagining the Indian Auto Industry’s Future".
While the automobile sector was already undergoing distress in the pre-covid era, the virus spread further pushed the automobile industry towards the negative end of the graph. However, with public transport being completely stilted for a couple of months last year, there was also an upsurge in consumer demands for personal mobility. Speaking to Tewari, Garg shared his insights on the key trends in consumer behaviour, the transition towards a cleaner mobility, the need for localisation, expectations from the future, etc.
The session opened with Tewari asking Garg to sum up how the year 2020 panned out for the automobile industry. According to Garg, some strong and surprising trends have been observed in consumer behaviour. He said, “While we thought that with the economic distress, consumers would buy only entry-level cars, downgrade their purchases or wouldn’t buy a car, Indian customers have proved us wrong. They have shifted to personal mobility as a safe mode of transportation especially with the economy opening up. Even the trend for SUVs has been ever-increasing. Last year SUVs contributed to 29% of the total sales in the automobile industry.” Garg also shared that consumers are looking forward to connected cars and the overall demand has been fairly good.
Talking about the BS-VI (Bharat Stage Emission Standards) norms mandated by the government last year, Garg states that the auto OEMs will have to show responsibility towards cleaner mobility in terms of newer technologies. He adds, “At 26-27% car penetration, while India is far from saturation, the responsibility towards cleaner mobility is important and that movement has already begun. We have been able to manufacture BS-VI engines for petrol, diesel and CNG. We are also happy to see the hydrogen mission in the budget as we sell the Hyundai Nexo in Korea and other countries, and are setting the feasibility in India now.”
With the government of India pushing electric vehicles and safety measures, an increasing price will build pressure on the price-sensitive Indian consumer. Commenting on the same, Garg added, “The consumer is also evolving. When the transition from BS-IV to BS-VI happened, even that led to an increase in cost. Consumers have become more mature to understand the importance of these additions.”
A parliamentary panel recently suggested the government decrease the GST levied on cars and have a separate department for automobiles. Commenting on whether it’s a good time for the same and will it will help the industry recover, Garg added, “While we have full confidence that as and when the government thinks that this has to be done, they will do it, but as OEMs, we cannot just wait for it to happen. We have to see what we can do in terms of new models and technologies to really make sure that the customers are interested, engaged and are coming to us. ”
Sharing insights on whether there is a set formulaic winning model that conquers all factors determining the success of a car in India, Garg said, “The decision to launch a new model has to be taken 3-4 years in advance of the launch date. It is therefore extremely important to properly study customer trends. To have a sense of what the customer is thinking and what they are going to need four years down the line, and then also taking a risk while doing that is what is important. The second thing is not taking too much time to launch a new model, OEMs have to align their strategy in line with consumer expectations.”
The waiting times for some popular cars in India is currently sitting at about six-eight months due to supply chain disruption. The disruption has been caused by the global shortage of semiconductors which is imported in India. Commenting on whether the Indian automobile and component manufacture industry should look at a more ‘Atmanirbhar’ approach, Garg said “Hyundai has always believed and is quite high on the localisation front. The pandemic has taught us that the smallest of the component can derail all your plans. However, this is a global shortage and we are working very closely with our suppliers to see how fast the balance part of the imported content can also be localised.”
Concluding the session with the way the automobile industry will pan out going ahead, Garg explained, “Currently the vaccinations are going well, interest rates are low and the demands are high and the pandemic has taught us to be agile and flexible. However, there are also challenges that still remain like the second wave of pandemic hitting, increasing fuel prices, etc. So we have to really see month by month, but the optimism is at a good level. We just have to work in order to ensure that we are able to deliver cars to the consumer’s demand.”
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Dr Praveer Sinha to be part of enba jury panel
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Dr Praveer Sinha to be part of enba jury panel
Sinha is the CEO & MD of The Tata Power Company Limited
By exchange4media Staff | Mar 14, 2023 8:18 AM | 2 min read
Dr Praveer Sinha, CEO & MD of The Tata Power Company Limited, India’s largest integrated power company, has joined the exchange4media News Broadcasting Awards (ENBA) jury panel. With a rich experience of nearly 36 years, Dr Sinha has expertise in Power Generation and Distribution sector in India.
Dr Sinha previously served as the CEO & MD of Tata Power Delhi Distribution Limited (TPDDL), a Public Private Partnership with the Delhi Government. He is also the Co-Chairman of the CII National Committee on Power as also on various Industry bodies.
Dr Sinha is a qualified Electrical Engineer and has done Master’s in Business Law from National Law University, Bangalore and has also completed his PhD. from Indian Institute of Technology, Delhi. He is a visiting Research Associate at Massachusetts Institute of Technology (MIT), Boston, USA and is also a distinguished Visiting Scholar at the Faculty of Engineering and Architectural Science, Ryerson University, Canada.
ENBA was formulated by the exchange4media Group in 2008 with the objective of recognizing the best in television news, and to reward industry leaders who are responsible for shaping the future of television broadcasting in India. This year, ENBA is in its 15th edition and the jury will be led by Sunil Arora, a senior bureaucrat and former Election Commissioner of India.
In the last editions, the ENBA jury was led by Harivansh Narayan Singh – Deputy Chairman, Rajya Sabha, Dr Kiran Karnik – Former President – Nasscom, Dr Nasim Zaidi - Former Chief Election Commissioner of India, SY Quraishi – Former Chief Election Commissioner of India, N Ram – Chairman, Kasturi & Sons Ltd., Former Editor–in-chief The Hindu and Group Newspapers, Sanjay Gupta – Managing Director – Star India.
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Varanium Cloud to acquire shares from Fastway Transmissions
The acquisition will be worth Rs 2,683 crore
By exchange4media Staff | Mar 4, 2023 6:25 PM | 1 min read
Varanium Cloud Ltd. will be acquiring up to 14,53,44,256 equity shares with a face of Rs 10 each from Fastway Transmissions Private Limited. The total purchase consideration will amount to Rs 2,683 crore.
As per the company, the consideration payable shall be discharged by way of consideration in cash, the company's statement said.
The acquisition will be subject to execution of the Share Purchase Agreement and other related definitive documents.
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Devraj Sanyal elevated to Chairman and CEO of Universal Music India & South Asia
He has also taken on the additional role of SVP, Strategy for Asia Pacific, Middle East and Africa
By exchange4media Staff | Mar 2, 2023 10:11 AM | 1 min read
Devraj Sanyal has been elevated to Chairman and CEO of Universal Music India & South Asia. Prior to this, Sanyal was the MD & CEO of Universal Music India and South Asia, based in Mumbai. He has also taken on the additional role of SVP strategy for The AMEA (Asia Pacific, Middle East and Africa).
He has been associated with Universal Music India since 2011. Prior to that, he was Group CEO of Percept Sports & Entertainment, which includes music, events, television & intellectual properties, branded content & entertainment and talent management divisions. Sanyal also co-founded the prominent Asian electronic music festival, Sunburn, with Percept Ltd.
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MLA Ashish Shelar on ENBA jury panel
Shelar is currently serving as the Bhartiya Janata Party Mumbai president
By exchange4media Staff | Feb 27, 2023 2:39 PM | 1 min read
Ashish Shelar, Member of the Legislative Assembly of Maharashtra, joins the ENBA jury panel.
Shelar is currently serving as the Bhartiya Janata Party Mumbai president. An active sports administrator, he has held several prestigious positions like Vice President of the Mumbai Cricket Association and Vice President of the Rajasthan Sports Club.
He has been the Mumbai Secretary for the Akhil Bhartiya Vidyarthi Parishad (ABVP).
The ENBA jury this year will be led by Sunil Arora, a senior bureaucrat, and former Election Commissioner of India.
In the last editions, the ENBA jury was led by Sh. Harivansh Narayan Singh – Deputy Chairman, Rajya Sabha, Dr. Kiran Karnik – Former President – Nasscom, Dr. Nasim Zaidi - Former Chief Election Commissioner of India, S.Y. Quraishi – Former Chief Election Commissioner of India, N. Ram – Chairman, Kasturi & Sons Ltd., Former Editor–in-chief The Hindu and Group Newspapers, Sanjay Gupta – Managing Director – Star India.
exchange4media formulated enba in 2008 with the objective of recognizing the best in television news, and to reward industry leaders who are responsible for shaping the future of television broadcasting in India.
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Internet growth declined in India in FY22: TRAI
The Internet subscriber base in FY22 stood at 824.8 million, compared to 825.3 million as on 31 March 2021, says TRAI report
By exchange4media Staff | Feb 24, 2023 8:42 AM | 2 min read
India boasts of having the world's second-largest mobile phone market with more than a billion users. Yet, internet growth in the country appears to have declined over the past year.
According to the latest TRAI annual report, the internet subscriber base, as on 31st March 2022, stood at 824.8 million, compared to 825.3 million as on 31 March 2021.
This means nearly 0.5 million (5 lakh subscribers) have fallen off the internet between 2021-22, a year which was marked by covid-19 pandemic and lockdown resulting in massive job losses.
The degrowth was recorded in both broadband and narrowband segments. The narrowband decline was gradual throughout FY22. But in the case of broadband, March 22 quarter was particularly bad as the number of internet subscribers fell from 792 million to 788.2 million.
This degrowth is remarkable especially since India is gearing up to welcome 5G.
The overall telecom subscriber base registered a decrease of 34.27 million subscribers in this period; from 1201.20 million in FY21 to 1166.93 million in FY22, the TRAI report says.
The wireless subscriber base, people who access the internet via mobile phone, was 1142.09 million at the end of 31 March, 2022 in comparison to 1180.96 million a year ago, registering a decrease of 38.87 million subscribers during the financial year 2021-22.
Smartphones are the main gateway to go online - and this is where growth is flattening. India Smartphone Market Declined by 10% in 2022 to 144 Million Units, according to the International Data Corporation ’s (IDC) Worldwide Quarterly Mobile Phone Tracker. This is the lowest figure since 2019, with a 10% decline YoY (year-over-year).
The last quarter was particularly bad when shipments declined 27% YoY to 30 million units. Steep rise in the cost of mobile phones due to inflation is being blamed for the dwindling demand.
“The ASP (average selling price) hit a record US$224, rising 18% YoY in 2022. The entry-level segment (sub-US$150) shrank to 46% of the market, down from 54% a year ago. The dearth of new launches in this critical mass segment was a barrier for new smartphone users, thus limiting the overall market’s growth,” Upasana Joshi, Research Manager, Client Devices, IDC India, said in a statement.
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Shazia Ilmi joins ENBA jury panel
The ENBA jury this year will be led by Sunil Arora, a senior bureaucrat, and former Election Commissioner of India
By exchange4media Staff | Feb 22, 2023 12:52 PM | 1 min read
Shazia Ilmi, former journalist and politician joins the ENBA jury panel.
Ilmi has over 15 years of experience in journalism and documentary filmmaking. As a television journalist, she led the media campaign of an anti-corruption bill. She hosted and produced a famous prime time news show called Desh Videsh on Star News.
Ilmi has been a member of the International Association of Women in Radio and Television. She has been an active politician since 2011. She is currently a spokesperson for the Bharatiya Janata Party.
The enba jury this year will be led by Sunil Arora, a senior bureaucrat, and former Election Commissioner of India.
In the last editions, the ENBA jury was led by Sh. Harivansh Narayan Singh – Deputy Chairman, Rajya Sabha, Dr. Kiran Karnik – Former President – Nasscom, Dr. Nasim Zaidi - Former Chief Election Commissioner of India, S.Y. Quraishi – Former Chief Election Commissioner of India, N. Ram – Chairman, Kasturi & Sons Ltd., Former Editor–in-chief The Hindu and Group Newspapers, Sanjay Gupta – Managing Director – Star India.
exchange4media formulated enba in 2008 with the objective of recognizing the best in television news, and to reward industry leaders who are responsible for shaping the future of television broadcasting in India.
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Anthony Yesudasan’s last rites to be performed in Delhi today
The last rites will be held at 3pm on 21st Feb. at the Army Cremation Ground, URI Enclave, Barar Square, New Delhi.
By exchange4media Staff | Feb 21, 2023 11:33 AM | 1 min read
The last of Anthony (Tony) Yesudasan, former top executive Reliance Anil Dhirubhai Ambani Group’s who passed away on 20th Feb will be held today 3pm at:- Army Cremation Ground, URI Enclave, Barar Square, New Delhi.
It must be mentioned that Jesudasan was a close aide of Dhirubhai Ambani’s younger son Anil Ambani and was associated with the Reliance group for close to three decades. He has been working closely with Ambani since the conglomerate split in 2006 and the Reliance ADA Group was formed.
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