IFTRTIndian Foundation of Transport Research and Training (Delhi, India)
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IFTRT says auto makers in India are discriminative against customers, who indulge in price increase and fiddle with the supply chain to charge premium on vehicles and may abandon the vehicle replacement plan once the economy bounces back.
"The government of India should not panic and fall prey to the pleas of automakers rather should take into its fold all stakeholders, experts and interested groups before working out stimulus for auto or road transport industry in the present situation," S P Singh, senior fellow at IFTRT was quoted as saying in the Times of India.
"The vehicle manufacturers periodically seek sops as could be seen for last 15 years and when the economy bounce backs, these manufacturers indulge in indiscriminate price increases, supply management and forget to need any special truck phase out/replacement scheme," Singh of IFTRT was quoted as saying.
"Such discounts and freebies like extended warranties have never been witnessed in the Indian market," said SP Singh, senior fellow at automotive research body, Indian Foundation of Transport Research and Training (IFTRT), "But even these massive discounts have failed to trigger sales."
It was mentioned that the IFTRT report stated that "The robust growth was backed by year-round buoyancy in the cargo offerings despite 9-10 per cent increase in vehicle prices, 15 per cent increase in tyre prices coupled with a jump in auto finance charges and other operating costs.