Long-term policies, stable regulatory roadmap required for auto sector: Toyota

Toyota Vice Chairman Vikram Kirloskar said the auto industry had built a lot of resources over the years but in this one year it lost almost all of it
...
A Toyota employee at work at the carmaker's Maharashtra unit. (MINT_PRINT)
A Toyota employee at work at the carmaker's Maharashtra unit.

A stable long-term regulatory roadmap and policy framework is required for the domestic auto industry, which is currently reeling under a prolonged slowdown, Toyota Kirloskar Motor (TKM) Vice Chairman Vikram Kirloskar said on Friday.

Speaking at SIAM annual convention here, Kirloskar said long-term policy framework is important to safeguard industry competitiveness.

"Today we stand at crossroads with various technological pathways and alternate energy options available for cleaner, greener sustainable future. We need to pause and revaluate our options keeping in mind the recent geopolitical developments, ultimate national objectives including building a self-reliant India and safeguarding industry competitiveness," Kirloskar said.

Also check these Vehicles

Find more Cars
Toyota Camry 2024 (HT Auto photo)
UPCOMING
Engine Icon2487 cc FuelType IconPetrol
₹ 50 Lakhs
Alert Me When Launched
Toyota Bz4x (HT Auto photo)
UPCOMING
BatteryCapacity Icon72.8 kWh Range Icon405 Km
₹ 70 Lakhs
Alert Me When Launched
Toyota Glanza (HT Auto photo)
Engine Icon1197.0 cc FuelType IconMultiple
₹ 6.86 - 10 Lakhs
Compare
View Offers
Toyota Belta (HT Auto photo)
UPCOMING
Engine Icon1462 cc FuelType IconPetrol
₹ 10 Lakhs
Alert Me When Launched
Toyota Camry (HT Auto photo)
Engine Icon2487.0 cc FuelType IconMultiple
₹ 46.17 Lakhs
Compare
Toyota Fortuner (HT Auto photo)
Engine Icon2755.0 cc FuelType IconMultiple
₹ 33.43 - 51.44 Lakhs
Compare
View Offers

Based on this, it is essential that a long-term stable regulatory roadmap and policy framework is created for the sector, he added.

The auto industry had built a lot of resources over the years but in this one year it lost almost all of it, Kirloskar said.

"In the future, as we go along, there should be long-term plans for theautomotive segment.. it would help this industry reach the pinnacle of the economy once again,"he added.

Kirloskar, however, sought a relook at timelines of upcoming regulations due to the ongoing slowdown and Covid-19 situation.

"As an industry we have always requested that there should be no changes to regulations once they are decided and notified. However,the adverse impact of the pandemic on the industry is unprecedented and it warrants a relook at timelines of future regulations like fuel efficiency norms and BS-VI second phase," he noted.

Policy interventions and regulations should focus on larger national imperatives and be technologically neutral, Kirloskar said.

Globally this approach has given good results, he added.

"One good example is linking taxation to fuel efficiency and carbon emissions, this is a simple transparent and impactful approach," Kirloskar noted.

He added that the government should also come up with a national fuel road map.

"Given the multitude technologies for cleaner alternative fuel options, having a comprehensive integrated national fuel road map will help industry make informed investment decisions," Kirloskar said.

As the auto sector traverses through this turbulent phase, it isfully confident of the continuous support of the government in taking necessary steps to revive the economy, he noted.

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.

First Published Date: 04 Sep 2020, 16:51 PM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city
Select a dealer

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.