Speed-A-Way (SAW), part of the Amalgamations Group, continues to assure its principals of performing well in the market despite continuous challenging which have plagued India’s automotive sector for the last couple of years. SAW, founded way back in 1948, is among the most successful and fastest-growing companies in the aftermarket trade in the country, working with an array of class-leading brands in the industry. As the leading distributor turned 66, its entire team gathered for a function at Chennai to celebrate the successful journey by presenting awards to its best-performing branches for FY14 and also to felicitate Mr. K.V.S.V. Prasad for his unmatched service to the automotive aftermarket through his association with Speed-A-Way. The event had participation from senior executives of leading auto component companies, also partners of Speed-A-Way, including Rane Group, Gajra Group, Talbros Group, Super Seal, among many others.
In his welcome address, Mr. S. Ramachandran, Managing Director, SAW, said: “We are a company which is 66 years young and have been dynamic in our growth and approach and continue to grow, by adapting to times. We are currently passing through challenging times during which, unless we react with caution and alacrity, we will not be able to finish the race. I would like to give a reassurance to all our principals: You have put your trust in us and Speed-A-Way will continue to perform for you.”
Mr. Harish Lakshman, ACMA President, graced the occasion as the Chief Guest and made a special address on ‘Gazing through the crystal ball’, sharing his views on the future of the Indian auto component industry. He said: “A lot has happened in the country after the elections, with sentiments swinging from extremely negative to highly positive. We have a lot of opportunities for growth in our industry however the role of the government in it is immense. There is an urgent need for demand creation which could be triggered by maintaining the reduction in excise rates and bringing down the interest rates for more viable vehicle financing. While the infrastructure deficit needs to be addressed in order to give a boost to the automotive industry, the introduction of GST is a very important step as well. Lastly, long-term stable export promotion schemes are necessary to drive growth in the industry. Despite all the challenges, I have full faith in the prowess and capability of the new government, our industry, the market potential and the skill and ingenuity of our people. I am confident that the automotive sector will overcome this downturn much sooner than later and come back to an unprecedented era of growth for the next 10 years.”
Following the addresses, Mr. K. V. S. V. Prasad was felicitated by a number of well-wishers who expressed their gratitude and privilege of having been associated with him through Speed-A-Way. Towards the end of the event, the SAW’s Best Branch Awards for 2013-14 – an award for each of the four southern states of Tamil Nadu, Karnataka, Kerala and Andhra Pradesh and an overall award for all four branches – were given away amidst much appreciation and applause from the gathering. Mr. Gautam Venkataramani, Co-Director, Speed-A-Way, proposed the vote of thanks to conclude the function.