Tata Motors' Shailesh Chandra Takes Over As SIAM President
SIAM members have elected Ashok Leyland CEO Shenu Agarwal as the vice president. Daimler India CEO Satyakam Arya is the new treasurer.
Shailesh Chandra, the managing director of Tata Motors Ltd.'s passenger vehicle business, has taken over as the president of the Society of Indian Automobile Manufacturers, effective immediately.
Chandra was so far the vice president of the industry body. He replaces VE Commercial Vehicles Ltd.'s Vinod Aggarwal at the helm.
Additionally, SIAM members elected Shenu Agarwal, chief executive officer of Ashok Leyland Ltd. as the vice president, according to a statement on Tuesday. Satyakam Arya, chief executive officer of Daimler India Commercial Vehicles Pvt. Ltd., is the new treasurer.
The appointments are for the fiscal ending March 31, 2025.
Chandra's elevation as SIAM president came on a day when the industry body held its 64th annual convention in New Delhi. The event focused on sustainable mobility, something Tata Motors has a headstart on with its billion-dollar EV enterprise, as well as raising awareness on alternatives to fossil fuels.
The appointment also came amid steep discounts announced by Tata Motors on its entire passenger-vehicle range.
Tata Motors' fossil-fueled cars are now cheaper by up to Rs 2.05 lakh. Its much-hyped electric cars are set to cost up to Rs 3 lakh less. According to the company, the price revision is part of its so-called 'Festival of Cars' ahead of the crucial festive season, but are being seen as a ways and means to offload inventory that date back to 2023.
Moreover, monthly sales are also on a decline.
Total domestic sales of Tata Motors fell 8% year-on-year to 70,006 units in August 2024, as against 76,261 units in the year-ago period, according to an exchange filing on Sunday.
Domestic wholesales of commercial vehicles—including trucks and buses of various shapes and sizes—fell 15% year-on-year to 25,864 units as against 30,748 units in the year-ago period.
Total car sales, including electric vehicles and exports, declined 3% year-on-year to 44,486 units, as against 45,933 units in the year-ago period.
NDTV Profit attempted to speak with Chandra at the SIAM event about the discounts, flagging sales and inventory build-up, but he was elusive.
