Buyers spent more money on gold and jewellery than on the entire auto sector.

There is money available but sentiments need to improve for auto sales to pick up and for the sector to turn around, felt Vikram S. Kirloskar, President, Society of Indian Automobile Manufacturers (SIAM).

The domestic automobile sector has managed the challenge of the ongoing slowdown over the past couple years through innovation, cost control and quality improvement, he said.

Addressing media persons at a road show for the 12th Auto Expo 2014 to be held in Delhi in February, he said automobile prices have probably gone up by about 2-3 per cent in the past two-three years against average salary increases of close to 20 per cent.

There has been a big change in the salaries relative to the price of cars, Kirloskar said. The quality of suppliers, investments in dealerships and services have improved.

Vinod K. Dasari, MD of commercial vehicles manufacturer Ashok Leyland Ltd, said the slowdown has helped drive innovation.

Manufacturers ensured that thse efficiency increases of the vehicles support their buyers’ business, he pointed out.

The auto expo will be held in two venues. The motor show is being organised at the India Expo Mart in Greater Noida between February 7 and 11, with a preview for the media on February 5 and a formal inaugural the next day.

The event will be spread over a 58-acre area.

Auto parts show The Auto Components show will be held at Pragati Maidan from February 6 to 9. Over 1,200 exhibitors will participate in the event, including OEMs and the gamut of domestic and global auto firms.

Online tickets priced at Rs 200 and Rs 500 will be available at www.bookmyshow.com.

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