<ul><li>Things are slowly looking up for the auto industry as more and more people are opening up to buying both new and pre-owned vehicles due to safety concerns when it comes to using public transport.</li><li>Volkswagen has been witnessing an increase in enqueries and bookings since unlock has started.</li><li><keyword id="4669550" type="PERSON" weightage="20" keywordseo="Steffen-Knapp">Steffen Knapp</keyword>, Director, Volkswagen Passenger Cars India tells us how through meticulous planning, the brand is pretty much on track with its 2020 plans, both in terms of new car and pre-owned car sales.</li></ul>The auto industry had been witnessing a slump even before Covid-19 hit the world. The lockdown also saw businesses coming to a complete halt and the industry got another jolt. However, with the unlocking of the country, things are slowly picking up. Consumer sentiments, while still not at pre-Covid levels, are improving. Auto makers are witnessing more enquiries and bookings. Meanwhile, the lockdown and people’s increasing focus on safety has also led to an increased interest in buying vehicles so the past few months have also seen more and more people being open to buying pre-owned vehicles. According to reports, a recent survey by credit rating agency ICRA revealed that there has been a sequential recovery month-over-month in segments like passenger vehicles, two-wheelers and tractors. Auto makers are also looking forward to a good Diwali. We recently caught up with Steffen Knapp, Director, Volkswagen Passenger Cars India who told us how the brand has been getting back in the game. He discusses the strategies that helped them get over the difficult months of lockdown and how they are on track with their 2020 plans, whether new car or pre-owned car sales and their target of 150 sales outlets across the country. Excerpts: Q) The auto sector was witnessing a slowdown even before the pandemic hit. How have things been for you as an organization in the past few months? Undoubtedly, the Indian auto industry is under pressure and more so with the current situation market sentiments are at an all-time low. Having said that, we utilized the past few months to further strengthen our foundation and worked hard together with our key stakeholders – employees, dealer partners and customers to support them in times of crisis. With a clear focus on ensuring their safety, peace-of-mind and comfort, we extended financial and infrastructural support to our dealer partners, engaged with our employees via virtual trainings, product refreshers, quizzes and business activities to keep the momentum high. We ensured complete peace of mind for our discerning customers, ensuring- extension of warranties, door step services, mobile service units to add to their convenience. Even before the pandemic, one of our key focus areas was Digitalization and we ensured availability of online and secured sales and services for our customers. Overall, we believe there’s an opportunity to embrace the new normal and seek newer possibilities for us. Q) With shops reopening, and traffic coming back on roads, has there been a spike in enquiries, or people buying new cars? What kind of business impact has the lockdown had on the organization? While the initial phase of lockdown was a challenging time for all of us, our business preparedness at Volkswagen helped us align our strategy and brand priorities. We launched two new SUVs under our SUVW strategy – T-Roc &amp; Tiguan Allspace right before the nationwide lockdown was announced. In the last couple of months, our focus was specifically on our new products/models and we introduced <keyword id="10172000" type="COMPANY" weightage="20" keywordseo="polo-vento">Polo &amp; Vento</keyword> TSI edition and our newly launched 6-speed AT transmission. Now with markets slowly opening up, we observe an increase in level of inquiries and bookings across our product range. In fact, our latest SUV T-Roc which was launched in March this year is sold out and the bookings have been closed for the carline. Along with enquires on new cars, we have witnessed an increase in demand for our used-car business, <keyword id="888482" type="PERSON" weightage="20" keywordseo="Das-WeltAuto">Das WeltAuto</keyword> (DWA) given the increasing demand for personal mobility. The demand further depends on factors like financial stability and the growing trend of first-time buyers opting for pre-owned vehicles. For Volkswagen, our pre-owned car business is a key to meet the demand and supply of the discerning car buyers. The lockdown had severely impacted the ecosystem and in specific the supply-chain. However, with unlock guidelines announced by the authorities, we are resuming business slowly but steadily. Our India 2.0 plan is in intact and we are committed to our plans. Q) At the time when showrooms were completely shut, how were you still engaging with your consumers? How did you transform your business model to stay relevant in the consumer's life? First things first, we ensured safety and well-being of all our stakeholders and took decisive steps to ensure smooth functioning of business from home. As next steps, we made all our sales and services available via online platform including new car purchases, live demos, real-time service jobs etc. As for content, we completely focused our marketing efforts in digital space and assisted all our prospects with the required information or supported basis their need. The end-to-end digital retail channel integrated our 137 sales and 116 service touchpoints. We extended our digitization drive across our used-car segment to enable transparent and fair evaluation for customers to buy and sell cars through our Das WeltAuto website or Das WeltAuto Valuator App. With unlock guidelines, we resumed business operations in a staggered manner under our comprehensive #VWellness program to provide and maintain health, hygiene and sanitization standards across all our touchpoints. This is to ensure customer confidence &amp; trust in our brand &amp; network operations. Q) What has your broad marketing strategy been to navigate these adverse times? The nationwide lockdown led to a major shift towards digital platforms. In line with this, we accelerated all our campaigns and customer engagements program over our digital communication platforms.Due to the lockdown, print and OOH mediums took a backseat in our media planning. As for future plans, we will continue our efforts across the genres to ensure our message reaches out to the right audience and at the right time but of-course with efficiencies in place. Q) How has this year’s festive season been so far? The market is returning to pre-Covid levels, our sales are above last year’s retail volumes. We expect the upcoming festive season to bring-in some cheer to the market, in turn, improving consumer sentiments. We are expecting a strong festive period as customers demand will not only be driven in the new car segment but will also push the peddle for the pre-owned vehicle segment. Q) How are you working on expanding your reach and presence in India? Are you on track with your launch plans despite the impact of the lockdown? While the pandemic had deterred our plans for Q2 2020, it has also given the opportunity to accelerate other strategic initiatives. With meticulous planning, we are pretty much on track with our 2020 plans whether new car or pre-owned car sales. This year, we shall reach our target of 150 sales outlets across the country. We’re confident on our SUVW strategy of introducing four SUVs for the Indian market. We’ve launched two until now (Tiguan Allspace &amp; T-Roc) and are successful in terms of retail. Next year, will mark the year of the <keyword id="1489436" type="ORGANIZATION" weightage="20" keywordseo="Volkswagen-Taigun">Volkswagen Taigun</keyword> and we’re preparing extensively for its launch in 2021. Q) As a marketer and leader, what have been your learnings from the lockdown experience? As a marketer and leader, our biggest learning has been to stay connected and transparent whether with our employees, customers or dealer partners. Irrespective of the situation, it is important to take your people with you and provide them regular updates of your business. Thankfully, technology has been of great support throughout the lockdown, allowing you to stay connected. Q) From an industry perspective, what are a few things that need to be done to woo back people to the idea of buying new cars (There has been a spike in people buying used cars)? Accessible and individual mobility options, right financing schemes, safe and sanitized showrooms, engaging brand campaigns and digital retail opportunities can bring back customer interest. At this moment, customers are looking for affordable and customized solutions, professional experiences that make them feel comfortable in purchasing their preferred vehicle. In specific to the used car market, we’ve grown in double digits in our month-on-month retails vs. the same period last year. Keeping this in mind, we launched the DWA Excellence centers in five pilot cities with a growth expansion plan to 17 this year. The trained consultants will offer our customers curated experiences in-turn a valued proposition. Q) Where will the next phase of growth for Volkswagen come from? In the global scheme of things, how important is India as a market for Volkswagen? India is one of the priority markets for Volkswagen and as part of the India commitment, <keyword id="166267" type="COMPANY" weightage="20" keywordseo="Volkswagen-Group">Volkswagen Group</keyword> is investing €1 billion in the implementation of India 2.0 project, since mid - 2018. With the aim to reach a 3% market share within the next five years, Volkswagen India is focusing on its SUVW strategy. Late last year, we announced the launch of four SUVs in two years, out of which we’ve delivered two products for the Indian market. The T-Roc has been sold out and we have a successful campaign on the Tiguan Allspace. The other two will be launched next year (2021) with an extensive focus on the ‘Volkswagen Taigun’. The Taigun will re-define the segment in terms of design, technology and safety as its built on our MQB A0 IN platform, boasting a localization level of up to 93%.

We're pretty much on track with our 2020 plans, both in terms of new car and pre-owned car sales: Steffen Knapp, Volkswagen Passenger Cars India

The <a href="http://www.businessinsider.in/searchresult.cms?query=Nifty">Nifty</a> and the <a href="http://www.businessinsider.in/searchresult.cms?query=Sensex">Sensex</a> eked out modest gains as the rally entered its third day on Thursday. The indices briefly dipped in the red around 11 a.m. but buying resurfaced to take them back up in the green. Here is a snapshot of the latest that is happening in the cash markets on the exchanges post noon. 
 
BENCHMARK INDICES 
<a href="http://www.businessinsider.in/searchresult.cms?query=Nifty+">Nifty </a>added 11 points at 7,960 points 
<a href="http://www.businessinsider.in/searchresult.cms?query=Sensex">Sensex</a> rose 91 points to 26,246 points 
 
BROADER INDICES 
CNX 100 Index rose 0.3% to 8,091 points 
CNX Mid Cap Index added 0.4% to 13,036 points 
CNX Small Cap Index rose 0.3% to 5,250 points 
 
SECTORAL INDICES 
CNX Pharma rose 1.5% to 13,114 points 
CNX Energy added 0.6% to 7,686 points 
CNX FMCG rose 0.3% to 20,020 points 
CNX IT lost 0.8% to 11,932 points 
CNX Auto fell 0.3% to 7,740 points 
 TOP <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">NIFTY</keyword> GAINERS 
UltraTech 
Infosys 
Lupin 
 
TOP NIFTY LOSERS 
HCL Tech 
Zee Ent 
BHEL 
 
TOP TRADED ON NIFTY 
HCL Tech 
Lupin 
Infosys 
 
TOP VOLUME BUZZERS 
ICRA 
BASF India 
Gujarat Gas 
 
52-WEEK HIGHS 
Cadila Healthcare 
Dishman Pharma 
Balaji Telefilms 
 
52-WEEK LOWS 
GMDC 
Shiv-Vani Oil 
Gujarat Apollo Industries 
 
ADVANCE-DECLINE RATIOS 
NIFTY: 32/18 <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">SENSEX</keyword>: 20/10 
FUTURES: 86/78 
BROADER MARKET: 1,303/1,105 
 
Image credit: Indiatimes

Here's the simplest explanation to what's been happening at the Markets today

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> ended the week with a bang as traders bought into beaten down valuations and bottom fished for gains on Friday after global markets stabilised.
 

	The Nifty surged 163 points, or 2 percent, close at 8,519, its day's high, as the bulls snatched momentum back from the bears. The Nifty's Advance-Decline ratio was a strong 47/3. Punjab National Bank, Zee Entertainment, Yes Bank, Bank of Baroda and Kotak Bank were the five top gainers on the Index. The 3 stocks to cede ground were Dr. Reddy's, BPCL and Infosys on the Nifty where Axis Bank was the most traded index stock worth 424 crore rupees.
 

	Adani Ports and Glenmark were in very heavy demand on the NSE thanks to their pending inclusion in the MSCI India Index.
 

	Bulls took complete charge of the wider market as well. Major indices such as CNX 100, CNX 200, CNX Midcap, CNX Small Cap and CNX 500 closed with gains amounting to 1.9-2.1 percent.
 

	
		
			The Bank Nifty managed to end at the high point of the day, up 552 points at 18,728 on murmurs that the government will recapitalise some PSU lenders today evening. The CNX PSU Bank Index surged 4.6 percent as well. The trend in other sectoral indices was strong. The CNX Pharma, CNX PSU Bank and CNX Auto Indexes posted gains of between 0.6-8.5 percent. The CNX Realty Index was the star of the tradeon Friday.
		 
		
			On the Bombay Stock Exchange, the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> jumped 518 points, or 1.9 percent, to end the week at 28,067 points. Vedanta, ICICI Bank, SBI, RIL and HDFC posted smart gains on the Index while Infosys and Dr. Reddy fell in trade. Consequently, the Advance-Decline Ratio was a strong 28/2 on the Sensex on which State Bank of India was the top traded counter worth 54 crore rupees.
		 
		
			
				
					Bulls resumed charge in the wider market after six days of negative advance-decline ratios. Today, 1,789 stocks gained ground versus 1,058 that fell below Thursday's closing prices.
				 
				
					The trend was bullish as well in the derivatives space with Nifty Futures closing at 8,545, up 164 points. DLF, HDIL and PNB were the top gainers in the futures space and all 18 sectors reported a rise in prices coupled with a gain in Open Interest. The Realty, Banking and Media sectors were the top gainers. The Advance-Decline Ratio was at 149/13 in the futures and Options market. 
				 
				
					
						Strong earnings were reported by Power Finance Corporation, Amara Raja Batteries, Hindalco and BPCL. Adani Ports, Alicon Castalloys, Jindal Poly Films and Maruti hit fresh highs on the NSE and SKF India, ICRA and KNR Constructions made it to the top volume buzzers list on the exchange. 
						 
						Image credit: Indiatimes

Here's how the day was at the Markets

Stocks rose for a second day on Friday on the back of a global pull back in equities but came off from intra-day highs after traders judged the recent up as too swift and too high. 
 The Nifty rose 53 points to end the week at 8,001, after retracing from an intra-day high of 8,089 points. The Advance-Decline Ratio was 30/20. Vedanta, ONGC, <keyword id="6354287" type="CITY" weightage="80" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, Cairn and Zee Entertainment were the top gainers on the Index while PNB, Lupin, Ambuja Cement, Yes Bank and <keyword id="6358007" type="CITY" weightage="80" keywordseo="Bank-of-Baroda">Bank of Baroda</keyword> lost ground. 
 <keyword id="6355975" type="CITY" weightage="80" keywordseo="Axis-Bank">Axis Bank</keyword> was the most actively traded stock on the NSE with 498 crore rupees worth of shares changing hands. Sun Pharma and SBI were in demand as well. All three stocks traded on the negative side. 
 
Broader markets were able to retain their early morning gains. The CNX 100, CNX 200, CNX 500, Nifty Junior and the CNX Mid Cap Indices gained between 0.3-1.3 percent on Friday. Selling on the Bank Nifty ensured that the 2 percent rise on the Index got erased. It ended 0.2 percent lower at 17,187 points. CNX Pharma, CNX PSU Bank and CNX Realty Indices lost ground as well. 
 
CNX Media, CNX IT and CNX Energy Indices were the top gainers, rising 1.2-2.3 percent. 
 The <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> on the <keyword id="43628" type="CITY" weightage="80" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> added 139 points, or 0.5 percent, to 26,370 points. Bajaj Auto, GAIL, Infosys, Wipro and NTPC were among the top gainers while Sun Pharma, Coal India and Lupin fell below their Thursday's closing prices. The Advance-Decline Ratio was 19/11 with State Bank of India being the top traded counter on the Index. 
 
The fresh expiry on the futures and options market started on a modest note. MindTree, Reliance Communications, HCL Tech and IRB Infra were among the top gaining futures while Amara Raja Batteries, Union Bank, Petronet and Dish TV slipped in trade. Within sectors, Telecom and Technology futures emerged as top gainers while Banking and Realty lost ground. The Advance-Decline was bearish with 74 stocks rising compared with 86 that fell 
 
Even in the broader market, sellers overwhelmed buyers with 1,291 shares advancing while 1,404 falling below their yesterday's close. 
 
In the list of fresh 52 week highs were Jubilant Industries, 8K Miles, Escorts Ltd. and Bajaj Corp while ICRA, Kolte Patil Developers, JMT Auto and VRL Logistics figured on the top volume buzzers list on the NSE. 
 
Image credit: Indiatimes

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We're pretty much on track with our 2020 plans, both in terms of new car and pre-owned car sales: Steffen Knapp, Volkswagen Passenger Cars India

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Here's the simplest explanation to what's been happening at the Markets today

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Here's how the day was at the Markets

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Here's a roundup of what happened in the markets today

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