Dear Friends,

I am thrilled to share with you a landmark collaboration between the Federation of Automobile Dealers Associations (FADA) and Frost & Sullivan, a renowned Growth Pipeline Company. Together, we are embarking on an ambitious journey to conduct the inaugural Customer Experience Index (CEI) Study.

Our goal with this study is nothing short of transformative. We aim to meticulously analyse every aspect of the customer journey within the passenger vehicle spectrum, including sales, after-sales service, and product quality. This comprehensive examination will provide invaluable insights that will shape the future of our industry.

In its inaugural year, the CEI Study will focus on the Passenger Vehicle Category, encompassing a wide range of vehicles from Hatchbacks to Luxury vehicles, including SUVs/MPVs and EVs. To ensure a diverse and inclusive dataset, we plan to gather insights from 8,000 participants across 26 cities, spanning metropolitan areas, Tier-2 cities, and Tier-3 locations.

Earlier this month, through media briefing we launched the study. For the briefing, on the dais I was joined by my friend Mr Vinkesh Gulati, Chairman of FADA Academy & Research, Mr Aroop Zutshi, Global Managing Partner at Frost & Sullivan, Mr Shylesh Narayanan, Country Leader at Frost & Sullivan-India, and Mr Saharsh Damani, CEO of FADA. Also present on the occasion was Mr Sai Giridhar, Secretary FADA.

Another exciting news I wish to share is that FADA Academy, in collaboration with NMIMS, is gearing up to launch an Executive Leadership Program tailored specifically for FADA GenX Leaders in the Indian Automobile Retail Sector.

Scheduled to commence in June 2024, this program is designed to empower the next generation of leaders within our community with the knowledge, skills, and insights necessary to thrive in today's dynamic business environment. I am confident that this Executive Leadership Program will serve as a catalyst for personal and professional growth, equipping participants with the tools and perspectives needed to drive innovation, foster collaboration, and lead with excellence.

Stay tuned for further updates as we unveil the program details in the coming weeks. In the meantime, I encourage all eligible members to express their interest and prepare to embark on this transformative journey towards leadership excellence.

In addition, I urge all of you to participate in the Dealership Satisfaction Survey 2024 for Finance & Insurance companies and FADA Dealership Excellence Awards 2024 as the last date has been extended till 30th May’24. We have received overwhelming response for the Awards and similarly want the same for DSS for F&I. I hence request all of you to participate since this initiative aims to amplify the voice of the dealer community and drive industry-wide improvements.

Further, the preparations for the Finance & Insurance Summit, scheduled for June 14, 2024, in Mumbai, are well underway. I encourage all of you to register for this event, which promises to be a platform for insightful discussions and recognition of excellence in the industry.

Reiterating to FADA activities during the month, I shall like to share highlights from recent engagements:

FADA Jammu Chapter, led by Chairperson Mr Sanjay Aggarwal, held a productive meeting with officials from the State Bank of India, Jammu & Kashmir. Discussions revolved around critical topics such as direct payouts, joint promotional activities, and strategies to enhance dealer incentives, fostering a collaborative approach towards mutual profitability.

The newly constituted Digital and Social Media Committee, under the guidance of Mr Vinkesh Gulati, convened to address pertinent issues and propose innovative solutions for expanding FADA's digital footprint, ensuring we remain at the forefront of industry communication.

During the month, WIF Chairperson hosted a WIF Meeting which included a special session on 'Retail Finance Penetration at Dealerships', led by Mr CS Vigneshwar, Vice President of FADA & Dy MD Anaamalais Toyota, facilitating insightful discussions on enhancing financial services within dealership networks.

To enhance Test Drive Vehicle policies streamlining industry practices and elevating customer experiences, FADA send representation to President SIAM, advocating for collaborative efforts.

In a significant development, FADA Rajasthan under Chairperson Mr Sharvik Shah & Secretary FADA, Mr Sai Giridhar submitted a representation to Shri Sanjay Malhotra, Revenue Secretary, Department of Revenue, Ministry of Finance, Government of India, under section 119(2)(b) of the Income-tax Act, 1961, seeking relief for specific cases. Subsequently, the Department issued Circular No. 6/2024, Dt. 23.04.2024, providing substantial relief to the industry concerning higher rates of TDS/TCS due to PAN & Aadhar linking requirements.

These endeavours underscore FADA's unwavering commitment to advancing the interests of our members and the automotive industry at large. Together, we continue work on initiatives that drive innovation, collaboration, and prosperity.

I once again seek the support & cooperation of all my dealer friends in joining hands with FADA to showcase the strength of the Dealer community in all our endeavours!

Warm regards,

Manish Raj Singhania
President, FADA