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Thursday 1 September 2016

SIAM DEMANDS EXTENSION OF FAME (FASTER ADOPTION AND MANUFACTURING OF HYBRID AND ELECTRIC VEHICLES)

 Society of Indian Automobile Industry at its 56th annual convention demanded an extension for the FAME scheme in the leftover cities of the country with an aim to push the demand for electric & hybrid vehicles collectively.

Government launched the FAME scheme in 2015 and since then over 80,000 electric and hybrid vehicles have been sold till now. The aim of the scheme was to offer incentives of up to Rs. 29,000 for bikes and Rs 1.38 lakh for cars to the customers who are willing to buy an electric or a hybrid car or scooter.

The convention also urged a clear roadmap on emissions, safety and fuel efficiency regulations that can provide us a clear direction for 5-10 years.

Meanwhile the demand for both used and new vehicles with CNG engine as a first preference has been on an increasing side thanks to the implementation of various government checks to control rising pollution.

Taking off vehicles of over 15 years on road has also triggered positive outlook in the industry, however the government is still in discussion mode on the kind of incentive to be offered for getting the vehicle scrapped. This will also create a good demand for new vehicles and ultimately lead to reduction in emission rate.

The government is also considering a financial incentive of up to Rs 1.5 lakh on surrender of vehicles that are over 10 years old to check pollution and address safety concerns.

Small vehicles will be offered an incentive of up to Rs 30,000 for those surrendering small vehicles while trucks could be in for total benefits worth Rs 1.5 lakh.


While the policy will take some time to get fully implemented meanwhile sell your used vehicles at Shriram Automall anywhere in India. The company follows an easy process to buy or sell used vehicles in India through their transparent bidding platforms.

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