Kenichi Ayukawa, MD and CEO - Maruti Suzuki India, succeeds Rajan Wadhera, Senior Adviser - Mahindra and Mahindra as the new President of the Society of Indian Automobile Manufacturers (SIAM). The Executive Committee of SIAM unanimously elected Kenichi Ayukawa as the new President and the election was conducted during the executive committee meeting which was held after SIAM's Annual General Meeting. The members of SIAM also elected Vipin Sondhi, MD and CEO, Ashok Leyland as the new Vice President of SIAM while Vinod Aggarwal, MD and CEO, Volvo Eicher Commercial Vehicles (VECV) will continue as the Treasurer of SIAM.
In fact, SIAM has been restructuring its management structure as some of its senior members have retired lately. Last month, Sugato Sen - Former Deputy Director General- SIAM decided to take retirement from work. He was succeeded by Atanu Ganguly who is looking at all the economic affairs related matters at SIAM. Sen has been working with SIAM since 1999 after being with various management consulting organisations.
Rajan Wadhera has lead the apex body of the Indian auto industry for the last two years which has been a gruelling period for the auto industry owing to the prolonged slowdown last year and then the coronavirus crisis that took a massive toll of auto sales and production. The volumes in the industry have hit the ground going down 2010 levels and the stakeholders are expecting returning to 2019 volume levels only by FY 2024-25. The auto industry was manufacturing around 92,000 units per day on an average last year and its down to 57,000 units per day after sales have shown slight recovery post the lockdown period.